Astra Microwave share rose after the company announced that its Joint Venture (JV) company, Astra Rafael Comsys, has bagged Rs 255.88 crore order from the Ministry of Defence (MoD)
The uptick in Premier Explosives share price came after the company announced that it has inked a memorandum of understanding (MoU) with Astra Microwave to develop and sell multiple products jointly.
Astra Microwave stock price: Astra Microwave Products registered highest-ever financial performance across all metrics
According to analysts, the company's revenue growth is expected to be steady with an operating margin of around 19-21%, supported by a healthy order pipeline and improving geographical mix.
From its March 2023 lows, shares of Astra Microwave Products has more-than-doubled by surging 106 per cent on the bourses
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In the past three months, the stock of the aerospace & defence company has underperformed the market by falling 2 per cent, as compared to a 6 per cent rise in the S&P BSE Sensex
Astra Microwave Products sees opportunities from various programs planned by the government through Defense Research labs (DRDO) and from the Make-II opportunities from Ministry of Defence (MoD)
The stock dipped 9% to Rs 115 on BSE after the company posted a net loss of Rs 2.43 crore in June quarter.