At 01:36 PM; DCX Systems traded 8 per cent lower at Rs 212.55, as compared to 0.39 per cent decline in the S&P BSE Sensex.
Shares of DCX Systems made a strong market debut, with the stock gaining as much as 49 per cent from its issue on the listing day. The strong debut followed a huge response to the company’s IPO, which saw nearly 70 times more demand than the shares on offer. DCX’s IPO consisted of a fresh fundraise of Rs 400 crore and an offer for sale worth Rs 100 crore.
DCX’s is a leading manufacturer of electronic sub-systems and cable harnesses.
As on September 30, 2022, DCX has an order book position of Rs 2,550 crore. The company’s management said the company has a healthy and strong order book which gives an optimistic outlook for the near future. The company’s focus remains on securing raw materials to support the anticipated growth and rationalizing expenses to improve operational efficiencies.
The management further said the company is also focusing on forward and backward integration in FY24, which would include setting up of Electronic Manufacturing Services (EMS) plant in its wholly-owned subsidiary Raneal Advanced Systems Pvt. Ltd.
Additionally, DCX is scouting to acquire technology (TOT) from OEMs in the area of Aerospace and defence and Civil Applications. This would also be supported by potential inorganic growth in offset defence obligations and non offset defence opportunities, the management said.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in