Shares of Dynamatic Technologies were skyrocketing on Thursday after the engineering firm bagged a major order from a global jet manufacturer.

What Happened: The Bengaluru-based firm has inked a long-term partnership with military and business jet maker Dassault Aviation to manufacture and assemble critical aerostructures for the Falcon 6X.

Dynamatic Technologies said the contract, which falls under the “Make in India” initiative, will enable the company to utilise precision engineering and advanced facilities to build critical aero structures for Dassault’s flagship business aircraft, the Falcon 6X.

“This long-term contract highlights our commitment to delivering high-quality products and services to our customers,” said Udayant Malhoutra, CEO and managing director of Dynamatic.

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The Falcon 6X is renowned for its range, efficiency and advanced technological features.

Bruno Coiffier, Dassault Aviation’s senior executive vice president, welcomed the contract, further affirming Dassault’s commitment to the country’s “Make in India” policy and its ambition to become a global benchmark supplier to the aerospace industry.

Why It Matters: This collaboration between Dynamatic Technologies and Dassault Aviation marks a significant step for the Indian aerospace industry. The ‘Make in India’ initiative, launched in 2014, seeks to transform India into a global manufacturing hub.

Price Action: Shares of Dynamatic were up 9.47% at ₹5,762.20 in late afternoon trade on Thursday.

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Disclaimer: Artificial intelligence was used as a secondary aid in writing this story.