Shares of DCX Systems Ltd. surged by 5% to a day’s high of Rs 355 on 19th September after the company announced it had received an export order worth Rs 154.80 crore from Israel’s Elta Systems.

The company announced in a regulatory filing that it received an order for RF Electronic Modules from Israel’s Elta Systems, expected to be completed within 12 months.

This order follows a recent industrial licence secured by its subsidiary from the Cochin Special Economic Zone (CSEZ) to manufacture and test microwave submodules, avionics, and defence electronic equipment.

The licence, valid for 15 years, allows the production of highly classified and sensitive Category-A items as per the Ministry of Defence Security Manual.

In the June quarter, the firm saw a 19% drop in revenue and a 69% decrease in net profit, with an operating loss of Rs 4.8 crore mainly due to rising costs.

So far in 2024, the stock has given negative returns of almost 0.42%. The company’s market capitalisation stands at around Rs 3,809 crore.

At 12:30 PM, the shares of DCX Systems were trading 0.97% higher at Rs 342 on NSE.

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