logo
DCX Systems spurts on strategic JV with Israel's ELTA Systems

DCX Systems spurts on strategic JV with Israel's ELTA Systems

DCX Systems rose 5.07% to Rs 259.90 after the company announced the execution of a Joint Venture Agreement (JVA) with ELTA Systems, a subsidiary of Israel Aerospace Industries (IAI), and its group companies.
The partnership aims to establish a new Joint Venture Company (JVC) in India focused on developing advanced radar systems under the governments "Make in India" initiative.
The JVC will specialize in airborne maritime radar systems, fire control radar systems and other radar technologies designed for both airborne and land applications. According to the filing made by DCX Systems with the stock exchanges today, the venture underscores a long-standing relationship between the two entities and leverages complementary expertise in the radar and defense electronics space.
As per the agreement, ELTA Group will hold a 63% stake in the new entity and DCX Systems will hold the remaining 37%.
Initially, the board of the JVC will comprise four directorsthree from ELTA and one from DCX. However, upon DCXs full investment into the venture, the board will expand to five directors, with DCX gaining one additional seat.
Leadership positions in the new company, including CEO and CFO, will be nominated by ELTA, subject to board approval. ELTA will also grant the JVC an exclusive license to use its radar technology in India, except for government-to-government (G2G) and government-to-commercial (G2C) projects.
This collaboration is expected to significantly enhance Indias indigenous radar manufacturing capabilities. The move is aligned with India's push to reduce dependence on imports in the defense sector and become a global defense production hub.
The agreement outlines various governance and operational structures, including reserved matters, intellectual property rights, and a call option mechanism in the event of a deadlock.
No related party relationships exist between the two entities, and the proposed equity shares to be issued to DCX will be priced at fair market value, in compliance with applicable laws.
DCX Systems is an Indian defense manufacturer specializing in the production and supply of electronic systems, subsystems, and cable & wire harness assemblies for international and domestic customers.
On a consolidated basis, net profit of DCX Systems declined 25.19% to Rs 10.01 crore while net sales rose 0.93% to Rs 200.01 crore in Q3 December 2024 over Q3 December 2023.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Quality Council of India launches revamped portal for MSMEs
Quality Council of India launches revamped portal for MSMEs

Hans India

time38 minutes ago

  • Hans India

Quality Council of India launches revamped portal for MSMEs

The Quality Council of India (QCI), the national custodian of accreditation in the country, commemorated World Accreditation Day 2025 here on Monday with the launch of revamped portal of the National Accreditation Board for Testing and Calibration Laboratories (NABL), aimed at streamlining the accreditation process and enhancing digital accessibility, particularly for laboratories and MSMEs. The QCI, through its constituent boards - the NABL and the National Accreditation Board for Certification Bodies (NABCB) - partners with global bodies such as the International Laboratory Accreditation Cooperation (ILAC) and the International Accreditation Forum (IAF) to align India's quality and conformance infrastructure with international benchmarks. This year's theme, "Accreditation: Empowering Small and Medium Enterprises (SMEs)", underscored the strategic role accreditation plays in enhancing competitiveness, market access, and credibility for MSMEs. The event opened with key messages from leadership and the release of a thematic video, setting the stage for dialogue on quality, innovation, and sustainable growth in the MSME sector. Reinforcing industry-wide commitment to quality, the event also featured 'Gunvatta Samarpan' - a unique initiative that encourages organisations to publicly pledge adherence to accredited standards across sectors. Addressing the gathering, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia, underlined the importance of accreditation in enabling Indian SMEs to access both domestic and global markets. He noted that certification and assessment bodies are crucial to the vision of Aatmanirbhar Bharat and Viksit Bharat @2047, by upholding quality, supporting exports, and promoting inclusive and sustainable growth. Quality Council of India (QCI) Chairperson, Jaxay Shah, in his keynote address, stated that accreditation is a gateway to global trust. He emphasised its role in helping MSMEs align with international standards, reduce rejection rates, boost productivity, and access new markets. Following the inaugural session, a Technical Session and concurrent CEO Forum featured expert-led discussions on how accreditation can drive MSME growth across sectors. Panellists shared insights on accreditation's role in improving diagnostic infrastructure, enabling international trade, supporting certified management systems and products, promoting third-party inspections, advancing sustainable manufacturing, and contributing to net-zero goals. Observed globally every year on June 9, World Accreditation Day highlights the role of accreditation in strengthening quality infrastructure, enabling global trade, and fostering economic development. This year's celebration by QCI reaffirmed accreditation as a vital enabler of innovation, competitiveness, and growth for India's small businesses in an increasingly globalised economy.

Paytm introduces personalized UPI ids to enhance user privacy and expand global payments
Paytm introduces personalized UPI ids to enhance user privacy and expand global payments

Time of India

time43 minutes ago

  • Time of India

Paytm introduces personalized UPI ids to enhance user privacy and expand global payments

Mumbai: Paytm has introduced personalised UPI IDs aimed at enhancing user privacy by allowing payments without revealing mobile numbers. The feature enables users to create handles such as name@ptyes or name@ptaxis and is currently supported by Yes Bank and Axis Bank, with plans to extend it to other banking partners. The new UPI ID system allows individuals to send and receive money without disclosing their phone numbers, addressing concerns about personal data exposure in digital transactions. According to the company, this update offers a more secure and flexible way to use UPI for everyday payments, from settling bills with delivery agents to paying vendors or shopkeepers. A Paytm spokesperson said, 'We have introduced personalised UPI IDs to offer more choice and privacy in payments. We heard the feedback from our customers who wanted to keep their mobile numbers private and built this solution to address that need.' The company said the new system is designed to deliver greater control over personal information while maintaining seamless usability. Paytm users can create personalised UPI handles through the app by navigating to their profile, accessing UPI settings, selecting a custom ID, and activating it as the primary handle. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Once set, the personalised ID masks the mobile number in transaction details, providing users with a consistent identity for digital payments. The company has also rolled out seven other updates to its platform. These include the option to hide or unhide payments, automatic categorisation of spending, widgets for faster access to payment functions, auto top-up for low-value UPI Lite transactions up to Rs 5,000, downloadable UPI statements in PDF and Excel formats, and a consolidated view of balances across UPI-linked bank has also expanded UPI acceptance for Indian users abroad. UPI payments are now enabled in the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal, allowing users to make payments overseas using the same app. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Elon Musk's Starlink services to cost Rs 3,000 per month in India
Elon Musk's Starlink services to cost Rs 3,000 per month in India

Time of India

timean hour ago

  • Time of India

Elon Musk's Starlink services to cost Rs 3,000 per month in India

Elon Musk 's satellite internet service Starlink is preparing to commence operations in India within the next two months after receiving its license last week, sources said. The company has finalised its pricing structure for the Indian market, setting the cost of the required satellite dish device at approximately Rs 33,000. The monthly unlimited data plan is expected to be priced at Rs 3,000. As part of its launch strategy, Starlink plans to offer a complimentary one-month trial period with each device purchase, allowing customers to test the service before committing to regular monthly payments. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like "Shkodër: Ju nuk do t'i besoni çmimeve të divanëve në shitje speciale të mobiljeve!" Divanë | Njoftime Kërkimi Mëso më shumë The satellite internet service is expected to significantly impact connectivity in India's remote and underserved areas, where traditional broadband infrastructure has been challenging to establish. Starlink's low Earth orbit satellite constellation promises to deliver high-speed internet access to locations previously unreachable by conventional terrestrial networks. The pricing structure appears consistent with Starlink's regional strategy, as the device costs align with those in neighbouring countries. In Bangladesh, the Starlink device is priced at Rs 33,000, while Bhutan maintains the same Rs 33,000 price point for the equipment. Live Events Industry experts suggest that Starlink's entry into the Indian market could intensify competition in the country's telecommunications sector and provide crucial connectivity solutions for rural areas, educational institutions, and businesses in remote locations. The company's imminent launch comes as India continues to push for digital inclusion and improved internet connectivity across its vast geographical expanse, particularly in areas where traditional internet service providers have struggled to establish reliable networks.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store