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.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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