DCX Systems Stock Soars 3.1% After Securing Rs 19.33 Crore Order from Elta Systems
DCX Systems saw its share price rise by 3.1% on the Bombay Stock Exchange (BSE), reaching an intraday high of Rs 369.5 per share. The stock gained momentum following the announcement that the company had secured a significant order worth Rs 19.33 crore from Elta Systems Ltd, Israel.
Order Details and Market Impact
The order, valued at approximately $2.26 million (Rs 19.33 crore), will see DCX Systems manufacture and supply Backplane Module Assemblies to Elta Systems. This contract is seen as a major boost for the company, contributing to the increase in share price. At 10:20 AM, DCX’s stock was trading at Rs 362.1, up 1.09%, while the benchmark BSE Sensex gained 0.5%, standing at 78,899.69.
Company Overview
DCX Systems specializes in providing end-to-end electronic manufacturing services (EMS), catering to critical industries such as defense, aerospace, telecom, and automotive. The company, founded in 2011, has quickly become a significant player in the Indian electronics manufacturing sector, offering services like printed circuit board (PCB) assembly, cable assemblies, system integration, and testing.
Earlier, the National Company Law Tribunal (NCLT) approved the merger of VNG Technology Private Limited, the company’s promoter, with Raneal Technologies.
Stock Performance
Over the past year, DCX Systems’ share price has gained 5%, underperforming the Sensex, which rose 9.2% in the same period. The stock’s 52-week high is Rs 451.9 per share, and the 52-week low stands at Rs 235 per share. As of the latest data, the company’s market capitalization is Rs 4,030.52 crore.
Outlook
DCX Systems’ growing order book, particularly in the defense and aerospace sectors, highlights its strong positioning in the electronic manufacturing space. The company’s focus on quality, innovation, and sustainability makes it a key player in the industry, with potential for continued growth and expansion.
