Small-cap defence stock hits 5% upper circuit on securing orders worth ₹600 crore
Axiscades Technologies said it has secured significant new orders, across airborne, naval, and radar-based platforms from premier Defence laboratories in India.
The orders involve development and supply of advanced sub-systems for some of the most sophisticated indigenous platforms being developed by leading Defence agencies like DRDOs and Defence PSUs.
The orders include VIRUPAKSHA (AESA) radar for Su-30 MKI upgrade, Transmit-Receive (TR) modules for S-Band Surveillance Radars, contribution to the development of the indigenous Digital Beam Forming (DBF) units for Long-range Battle Management Radar (LRBMR) and development and delivery of the Homing Receiver - the core of the autonomous target acquisition for the next-generation submarine launched ASW weapon system.
The order also includes production-scale delivery of various sonar sub-systems, Axiscades Technologies said in a regulatory filing on July 29.
These programs of a cumulative order value of around ₹ 600 crore, adds to the existing order book, to be executed over the next 3 to 5 years, with a steady revenue stream across development, prototyping, and full-scale production phases, the company added,
Axiscades Technologies share price has declined 12% over the past month; however, the small-cap stock has surged 60% in the last three months. On a year-to-date (YTD) basis, the defence stock has gained 97%, delivering a strong performance.
Over a longer horizon, Axiscades Technologies has provided exceptional returns, rallying 122% in one year, 951% over three years, and soaring over 2,200% in the past five years — firmly establishing its status as a multibagger.
At 1:50 PM, Axiscades Technologies share price was still locked at 5% upper circuit of ₹ 1,296.85 apiece on the BSE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Wall St sees worst session since May on US eco jitters
. Wall Street traders drove stocks towards their worst session since May, as weak jobs and manufacturing data revived concerns about the economy, a day after Trump unveiled sweeping tariffs. Bond yields sank on bets that the Fed will cut rates soon. The S& fell 1.2%, with Amazon leading losses on an underwhelming profit outlook. Short-term yields headed toward their biggest plunge since Aug 2024. Money markets fully priced in two rate cuts in 2025, with an 80% chance of a reduction in Sept. The dollar sank. Job growth cooled sharply over the past three months and the unemployment rate rose. Payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000. In the last three months, employment growth has averaged a paltry 35,000 - the worst since the pandemic. "What had looked like a Teflon labour market showed some scratches this morning," said Ellen Zentner at Morgan Stanley Wealth Management. "A Fed that still appeared hesitant to lower rates may see a clearer path to a Sept cut, especially if data over the next month confirms the trend." A separate report showed US factory activity contracted in July at the fastest pace in nine months, dragged down by a faster decline in employment as orders continued to shrink. The twin shocks - a slew of new tariffs that boosted the average US rate on goods from across the world and evidence of a cooling labor market - sent investors scrambling to reassess the economic outlook. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Economic Times
3 hours ago
- Economic Times
US Stock market: S&P 500 suffers biggest daily fall in over 3 months, Nasdaq Composite, Dow Jones crash
Key indexes of US Stock Market are S&P 500, Dow Jones Industrial Average, and Nasdaq Composite. CBOE Volatility Index, also known as Wall Street's fear gauge, climbed to as much as 21.90, its highest since June 23. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs U.S. stocks slumped on Friday, with the S&P 500 on track for its biggest daily percentage decline in more than three months as new U.S. tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure. S&P 500 lost 101.60 points, or 1.60 per cent, to end at 6,237.79 points, while the Nasdaq Composite lost 472.78 points, or 2.24 per cent, to 20,649.67. The Dow Jones Industrial Average fell 543.97 points, or 1.23 per cent, to 43, the S&P 500 and the Nasdaq recorded their biggest single-day percentage declines since April 21 and all three major indexes were on track for weekly losses. The CBOE Volatility Index, also known as Wall Street's fear gauge, climbed to as much as 21.90, its highest since June weighing on equities was a tumble in shares after the company posted quarterly results but failed to meet lofty expectations for its Amazon Web Services cloud computing unit. Just hours before the tariff deadline on Friday, President Donald Trump signed an executive order imposing duties on U.S. imports from countries, including Canada, Brazil, India and Taiwan, in his latest round of levies as countries attempted to seek ways to reach better deals. Further denting confidence in the economic picture, data showed U.S. job growth slowed more than expected in July while the prior month's report was revised sharply lower, indicating the labor market may be starting to report significantly pushed up expectations the Federal Reserve will cut interest rates at its September expectations the Fed will cut rates by at least 25 basis points at its September meeting stood at 80.9%, according to CME's FedWatch Tool, up from 37.7% in the prior data from the Institute for Supply Management showed U.S. manufacturing contracted for a fifth straight month in July and factory employment dropped to the lowest level in five was the biggest drag on the Dow, S&P 500 and Nasdaq and pushed the consumer discretionary index, down nearly 4% as the worst performing of the 11 major S&P 500 sectors. Also reporting earnings was Apple, which fell after it posted a current-quarter revenue forecast well above Wall Street estimates, but CEO Tim Cook warned U.S. tariffs would add $1.1 billion in costs over the briefly extended declines after Trump said he ordered the commissioner of the U.S. Bureau of Labor Statistics, Erika L. McEntarfer, to be fired in the wake of the jobs data. In contrast to the broad declines, Reddit surged after it reported quarterly results that exceeded Street expectations, boosted by an AI-focused advertising strategy and strong user engagement.A1. The CBOE Volatility Index, also known as Wall Street's fear gauge, climbed to as much as 21.90, its highest since June 23.A2. Key indexes of US Stock Market are S&P 500, Dow Jones Industrial Average, and Nasdaq Composite.
Mint
3 hours ago
- Mint
TSX posts biggest decline since April as US jobs data spooks investors
TSX ends down 0.9% at 27,020.43 For the week, the index declines 1.7% Technology sector falls 2.4% Energy loses 1.9% as oil settles 2.8% lower TORONTO, - Canada's main stock index fell for a third straight day on Friday as investors weighed disappointing U.S. jobs data and an escalation in the U.S. trade war with Canada. The S&P/TSX composite index ended down 239.35 points, or 0.9%, at 27,020.43, extending its pullback from a record closing high on Tuesday. It was the index's sharpest decline since April 10. For the week, the TSX was down 1.7%. "August tends to be one of the worst months for the year and it's setting off to do that once again, as we're seeing some volatility and a quick drop-off with weaker payroll numbers in the U.S. and just some concerns around earnings so far," said Greg Taylor, chief investment officer at PenderFund Capital Management. "A lot of the better companies usually report first in the cycle, and we got that, now we're starting to see some weakness." Wall Street posted steep declines as failed to meet lofty expectations for its Amazon Web Services cloud computing unit and after U.S. jobs data disappointed. U.S. employment growth was weaker than expected in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in labor market conditions. Domestic data was also downbeat. Canada's manufacturing sector contracted for a sixth straight month in July as tariffs undercut trade with the United States and spurred firms to reduce inventory as well as staffing levels. U.S. President Donald Trump on Thursday signed an executive order increasing tariffs on Canadian goods to 35% from 25% on all products not covered by the U.S.-Mexico-Canada trade agreement. All ten major sectors on the TSX ended lower, led by a 2.4% decline for technology. Energy lost 1.9% as worries about a possible increase in OPEC oil production weighed on the price of oil. U.S. crude futures settled 2.8% lower at $67.33 a barrel. Heavily weighted financials lost 0.9%. MDA Space Ltd was a bright spot. Its shares jumped 18.4% after the aerospace company was selected as the prime contractor on a project for Echostar.
