DXC Systems Share Price Hits Over Five-Month High As Company Fetches Rs 483-Crore Export Order

DCX Systems Ltd.'s share price rose to the highest level in over five months as the company received export order worth Rs 483 crore from ELTA System Ltd., Israel. The order is for manufacture and supply of close-in weapon system module assemblies.

The given order value is deducted assuming $1 is equal to Rs 85, DCX Systems said in the exchange filing. The actual order value is $56.50 million, as per the exchange filing.

In an separate exchange filing, DCX Systems Ltd. said that it appointed Ramegowda Shiva Kumar as an additional executive director on the board of directors of the company with effect from Jan 2. The appointment awaiting approval from the shareholders.

DCX System Ltd. share price rose 6.53% to Rs 393.00 apiece, the highest level since Jul 29. It pared gains to trade 3.48% higher at Rs 381.75 apiece as of 9:43 a.m., as compared to 0.17% decline in the NSE Nifty 50 index.

DCX Systems Ltd. share price rose for five days in a row to Monday. The stock hit a 52-week high of Rs 451.90 on Jul 3, 2024. It touched a 52-week low of Rs 235.30 apiece on March 13.

The stock gained 10.24% in 12 months. Total traded volume so far in the day stood at 27 times its 30-day average. The relative strength index was at 71.21, which implied the stock is slightly overbought.

Three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.6%.