Latest news with #DCX
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Business Standard
21-04-2025
- Business
- Business Standard
DCX Systems shares soar 11% on JV deal with ELTA Systems; check detail here
Shares of DCX Systems were in demand on the bourses on Monday, April 21, 2025. The company's share price climbed 11.15 per cent to ₹275 apiece on the NSE during intra-day trade on Monday. The northward movement in the DCX Systems share price came following the company's announcement that it has executed a Joint Venture Agreement with IAI's ELTA Systems, Israel, and its group companies for the purpose of establishing a Joint venture company (JVC) in India for conducting business in the areas of airborne maritime radar system, fire control radar system, and other radar systems for airborne and land applications under 'Make in India' projects. According to the regulatory filing, the proposed shareholding of the JVA is DCX at 37 per cent and ELTA Group at 63 per cent. ELTA will provide an exclusive license of the technology to the JVC in India for Make in India Projects excluding G2G and G2C projects. Initially, the board of the JVC shall comprise 4 directors, out of which 3 shall be ELTA directors and 1 shall be a DCX Director. "Upon full investment by DCX in the JV Company, the board of the JVC shall comprise 5 directors, of which 3 shall be ELTA Directors and 2 shall be DCX directors," DCX Systems said in a regulatory filing. DCX Systems is an Indian defense manufacturing company that offers electronic systems and cable harness manufacturing services for domestic and international clients. The company provides system integration, product assembly, and testing services for complex systems like radar, electronic warfare, and missile systems. DCX Systems has capabilities to manufacture high-end microwave modules and cable assemblies for various applications, including aerospace, defense, and medical industries. As of April 21, DCX Systems' market capitalization stands at ₹2,993.84 crore on the NSE. DCX Systems shares have declined nearly 13 per cent year-to-date. In contrast, the Nifty50 has advanced nearly 1.5 per cent during the same period. The company's shares have a 52-week range of ₹451.90–200.10 per share on the NSE.
Business Upturn
21-04-2025
- Business
- Business Upturn
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.
