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DCX Systems rises 5% in trade; here's why the stock is in demand today
The company's market capitalisation stood at ₹3,273.65 crore. Its 52-week high was at ₹445.25 per share and 52-week low was at ₹200 per share.
Why were DCX Systems shares buzzing in trade?
The counter saw buying after the company received an industrial license for the production, assembly, and testing of radar systems and EW systems and integration and manufacture of Avionics & Defence Electronic Equipment.
"We wish to inform that the Industrial Licensing Section, Office of the Development Commissioner, Cochin Special Economic Zone (CSEZ), EOU's & SEZ's in Karnataka, under the Ministry of Commerce & Industry, Government of India, has granted an Industrial license to DCX SYSTEMS LTD," the filing read.
It added: The industrial license undertaking to manufacture the above-mentioned items shall be located at Aerospace SEZ Sector, Plot No 29,30 & 107, Southern Block, Hitech, Defence and Aerospace Park, Kavadadasanahalli, Hobli, Devanahalli, Channarayapatna, Bengaluru, Karnataka 562110.
The license enables the company to manufacture items categorised under CATEGORY-A as per the MOD Security Manual. Products falling within this category are considered to be of the highest level of security and are highly classified and sensitive in nature from a security standpoint.
The office of the Development Commissioner Cochin Special Economic Zone (CSEZ), EOU's & SEZ's in Karnataka, Ministry of Commerce & Industry, Government of India has granted the license which will be valid for 15 years.
About DCX Systems
DCX Systems is a rapidly expanding Indian company specialising in defence and aerospace electronics. The company operates from a 30,000 sq ft facility within the Aerospace SEZ. The company also offers end-to-end solutions, from electronic subsystems to cable and wire-harness assemblies. Through vertical integration and strong in-house capabilities, DCX positions itself as one of the few Indian firms with full-spectrum defence electronics capacity.
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