The move came post media reports that the company has won a large defence sector-related order from the Defence Research and Development Organisation and Tata Advanced Systems. The report further went on to suggest that the order is for providing missile launch vehicles for the DRDO and is in talks for more such orders from DRDO and Tata Advanced Systems.
The order win, if confirmed by the company, will be a major boost for its recently-announced ambitions of entering into defense sector equipment. The company had recently met marquee investors such as SBI Mutual Fund, White Oak Capital, Malabar, HDFC Mutual Fund and others highlighting the turnaround it is seeing post the lockdowns.
Investors seem enthused by the prospects of a new dawn as the stock rallied 16 per cent today.
Bharti Airtel exhales
In the run-up to Ganesh Chaturthi, investors of Bharti Airtel were a nervous lot given the tangible fears of another round of jostling for customers as Reliance Jio geared up to launch its JioPhone Next.
Fortunately for Airtel, the global chip shortage has thrown a spanner into Jio’s plan to launch India’s most affordable smartphone as the company has had to postpone the launch till near Diwali. Analysts, however, have dismissed investors’ concern that the new JioPhone will dampen Bharti Airtel’s new found mojo. For now, it seems the Airtel party can last a little longer as the stock ended in the green as RIL’s slumped over 2 per cent.
Major breakthrough
While the attention of the world has been justifiably fixed on Covid-19, there is another pandemic that has been raging in the background, that is of ‘Long COVID’.
Among those who have been infected by the virus, many have been suffering from the after-effects of the disease even after 12 months that has puzzled doctors. Advanced Enzyme Tech earlier today provided a ray of hope in dealing with this crisis after it said it had a clinical breakthrough of systemic enzymes and probiotics to resolve long Covid fatigue symptoms.
The products are getting a greater thrust from the company on the online retail channels after success in the US during the pandemic months. One hopes that the clinical breakthrough ends up being the lift for Covid patients as it was for the company’s stock that rose 12 per cent.
