DCX Systems Stock Rises Over 17% On Back Of HAL Order Worth Rs 68 Crore
· Free Press Journal
The stock of DCX Systems on Friday surged over 17 percent on the stock exchanges on the back of the Rs 68 crore order from Hindustan Aeronautics Limited.
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The stock of the wire and harness assembling company opened 3.6 percent higher on the bourses at Rs 177.90 apiece compared to its previous closing price of Rs 177.90.
It surged 17 percent to as high as Rs 208.55 before easing down to Rs 198 later in the day, still hovering at a premium of over 11 percent.
DCX Systems Secures ₹68.05 Crore HAL Order For Airborne Antenna & Power Supply SystemsThe company had announced on Thursday that it has received an order of over Rs 68 crore from India’s leading aerospace company Hindustan Aeronautics.
“We wish to inform you that the company has received purchase order(s) from its customer(s) amounting to about INR 68.05 Crores (including GST) in the normal course of business,” DCX Systems said in an exchange filing detailing the order.
The company will be manufacturing and supplying custom-made antennas and power supplies for the airborne application of Hindustan Aeronautics, it said in the exchange filing.
The HAL contract centres on specialised electronic systems that support airborne platforms, an area where precision engineering and reliability are critical.
Centre Signs ₹2,312 Crore HAL Contract For 8 Dornier 228 Aircraft To Boost Coast Guard FleetAntennas and power supply units form essential components of aircraft communication and mission systems.
By supplying these custom-built systems, DCX Systems strengthens its position in the defence electronics supply chain, particularly in projects tied to aerospace and military aviation.
In the third quarter of the current financial year, DCX Systems reported a revenue of Rs 121 crore and a net profit of Rs 7.16 crore. The company has a market capitalisation of over Rs 2,085 crore.
Recently, the company had announced the expansion of its manufacturing capacity by adding an oversized PCB assembly capacity at its wholly owned subsidiary, Raneal Advanced Systems (Raneal).
In February, DCX Systems said it received purchase orders worth approximately ₹44.06 crore from domestic and international customers in the normal course of business.