DCX Systems at 5% upper limit as arm bags order from Lockheed Martin Global

DCX Systems share price: DCX Systems shares were buzzing in trade on Tuesday, October 29 as the scrip was locked in 5 per cent upper circuit at Rs 322.10 per share.

 

The rise in DCX Systems share price came after the company announced that its wholly owned subsidiary, Raneal Advanced Systems, has received export orders from Lockheed Martin Global Inc, USA for Rs 379.67 crore (or about $45,199,440).

 

In an exchange filing, DCX Systems said, “We wish to inform you that our Wholly Owned Subsidiary M/s. Raneal Advanced Systems Private Limited has received export orders from M/s. Lockheed Martin Global Inc, USA for US$ 45,199,440.00 (Equivalent to about INR 379.67 Crores at exchange rate of 1 USD = INR 84).”

 

 

Under the terms of the order, DCX Systems’ arm will be responsible for the supply of electronic assemblies. 

 

The order is expected to be completed within 12 months, DCX Systems said in a statement. 

 

Last month, the company announced that it received export orders from ELTA SYSTEMS LTD, Israel for $18,495,779.10 (or Rs 154.80 crore).

 

DCX Systems, based in Bengaluru, specialises in manufacturing electronic subsystems and cable harnesses for the aerospace and defence sectors. 

 

Their product range includes system integration, radar systems, sensors, electronic warfare equipment, missiles, communication systems, and various cable assemblies such as radio frequency, coaxial, mixed signal, power, and data cables. 

 

Additionally, DCX Systems offers repair support for their products and collaborates with both domestic and international OEMs as an Indian Offset Partner (IOP).

 

The market capitalisation of DCX Systems is Rs 3,587.76 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category.

 

The 52-week high of DCX Systems is Rs 451.90 per share while its 52-week low is Rs 235 apiece.

 

At 10:17 AM, DCX Systems shares continued to remain locked in the 5 per cent upper circuit. In comparison, BSE Sensex was trading 0.44 per cent lower at 79,652.59 levels.