Shares of DCX Systems Ltd. surged nearly 16% to a fresh life high on Tuesday after it received a Rs 1,250 crore order from Larsen & Toubro Ltd. The contract is for manufacture and supply of electronic modules, and is to be completed within a span of three years.
DCX Systems is among the leading Indian players in the manufacture of electronic sub-systems and cable harnesses. It has been a preferred Indian offset partner for foreign original equipment manufacturers for executing aerospace and defence manufacturing projects, according to an exchange filing.
Shares of DCX Systems surged 15.97% before paring gains to trade 12.11% higher at Rs 425.35 per share, compared to a 0.02% rise in the NSE Nifty 50 at 10:55 a.m. on Tuesday.
In the last six months, the stock price has risen by 26.95% while its one-year stock return stood at 71.11%.
Key Levels
Resistance level: Rs 440 apiece (life high).
Support level: Rs 352.75 per share (one-week low).
Order Book In Fiscal 2024
DCX Systems' order book stood at Rs 801.2 crore as of March 2024. The order book consists of a mix of 60-70% of export and 30-40% of domestic business, the management said.
Recent orders in focus include:
Purchase order for $1.9 million (which roughly Rs 16.5 crore in rupee terms) from M/s. Lockheed Martin Corp., USA.
Purchase contract for export orders from overseas customers valued at approximately $55.1 million (which is equivalent to approximately Rs 457.6 crore).
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