DCX Systems announces joint venture with Israel's ELTA Systems; shares jump 5% on partnership
By Aditya Bhagchandani Published on April 21, 2025, 14:34 IST
Shares of DCX Systems jumped over 5% in Monday's trade, hitting ₹260.33 on the NSE after the company announced a significant strategic partnership with Israel's ELTA Systems. The rally was driven by news of a Joint Venture Agreement signed on April 21, 2025, aimed at manufacturing radar systems under India's 'Make in India' initiative.
As per the official filing, DCX Systems has entered into a Joint Venture Agreement (JVA) with ELTA Systems Ltd., a subsidiary of Israel Aerospace Industries (IAI), to establish a Joint Venture Company (JVC) in India. The focus will be on the development and supply of Airborne Maritime Radar Systems, Fire Control Radar Systems, and other radar-based technologies for airborne and land-based defense applications.
The partnership structure gives 63% ownership to ELTA Group and 37% to DCX. ELTA will provide an exclusive technology license to the new venture for Indian defense projects (excluding Government-to-Government and Government-to-Commercial contracts).
The initial board of directors for the JVC will include three ELTA nominees and one DCX nominee. Upon full investment by DCX, the board will be expanded to five members, with DCX holding two seats. ELTA will appoint the CEO and CFO, pending board approval.
This collaboration marks a key milestone in DCX Systems' efforts to strengthen its footprint in India's defense technology sector. Investors responded positively to the announcement, with the stock gaining ₹12.92 or 5.22% from the previous close of ₹247.41.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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