Small-cap defence stock hits 5% upper circuit on securing orders worth ₹600 crore
Axiscades Technologies said it has secured significant new orders, across airborne, naval, and radar-based platforms from premier Defence laboratories in India.
The orders involve development and supply of advanced sub-systems for some of the most sophisticated indigenous platforms being developed by leading Defence agencies like DRDOs and Defence PSUs.
The orders include VIRUPAKSHA (AESA) radar for Su-30 MKI upgrade, Transmit-Receive (TR) modules for S-Band Surveillance Radars, contribution to the development of the indigenous Digital Beam Forming (DBF) units for Long-range Battle Management Radar (LRBMR) and development and delivery of the Homing Receiver - the core of the autonomous target acquisition for the next-generation submarine launched ASW weapon system.
The order also includes production-scale delivery of various sonar sub-systems, Axiscades Technologies said in a regulatory filing on July 29.
These programs of a cumulative order value of around ₹ 600 crore, adds to the existing order book, to be executed over the next 3 to 5 years, with a steady revenue stream across development, prototyping, and full-scale production phases, the company added,
Axiscades Technologies share price has declined 12% over the past month; however, the small-cap stock has surged 60% in the last three months. On a year-to-date (YTD) basis, the defence stock has gained 97%, delivering a strong performance.
Over a longer horizon, Axiscades Technologies has provided exceptional returns, rallying 122% in one year, 951% over three years, and soaring over 2,200% in the past five years — firmly establishing its status as a multibagger.
At 1:50 PM, Axiscades Technologies share price was still locked at 5% upper circuit of ₹ 1,296.85 apiece on the BSE.
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