The Economic Times daily newspaper is available online now.

    Dynamatic Technologies rallies 8% as firm wins escape hatch door contract for Airbus A220

    Synopsis

    Synopsis: The contract was placed by recently established Stelia Aeronautique Canada Inc., a subsidiary of Airbus Atlantic SAS. This contract marks a milestone of workshare of the A220 supply chain in India and extends Dynamatic's capabilities for manufacturing critical aerostructure to Airbus.

    Dynamatic Technologies rallies 8% as firm wins escape hatch door contract for Airbus A220Agencies
    Dynamatic Technologies is a smallcap company having a market cap of Rs 1,271 crore.
    New Delhi: Shares of Dynamatic Technologies rallied around 8 per cent to a high of Rs 2038.65 in Tuesday’s trade after the company won the contract to manufacture escape hatch doors for Airbus A220 aircraft.

    In a press release, Udayant Malhoutra CEO & Managing Director of Dynamatic Technologies said, "We are delighted to have been awarded this contract. Dynamatic has been working with Airbus since 2006 on flight-critical wing sub-assemblies and are now moving onto the fuselage.”

    At 10:40 am, the scrip traded at Rs 1983.3 around 6.5 per cent above its previous close of Rs 1864.75.

    He further said that the escape hatch door is a complex assembly, and this is the first aerostructure of the new Airbus A220 family to be built in India. “Dynamatic will become a pathfinder for establishing a fully qualified ecosystem for the A220 family in India. It is a testament to the resilience and quality systems of the Indian supply chain," he added.

    The contract was placed by recently established Stelia Aeronautique Canada Inc., a subsidiary of Airbus Atlantic SAS. This contract marks a milestone of workshare of the A220 supply chain in India and extends Dynamatic's capabilities for manufacturing critical aerostructure to Airbus.

    Dynamatic Technologies is a smallcap company having a market cap of Rs 1,271 crore.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in