275% up in 2 years: After getting order from mutlibagger defence PSU, this IT stock jumps

On Monday, May 27, engineering solutions provider Axiscades informed through a stock market disclosure that its arm has received an order worth Rs 90 crore from the defence PSU company Bharat Electronics Ltd (BEL).

After receiving the order, shares of IT company Axiscades Technologies stock jumped 2.43 per cent and touched the level of Rs 523.95.

Axiscades, based in Bengaluru, is a leading technology and engineering solutions provider.

Axiscades order details

Axiscades' subsidiary Mistral has bagged a Rs 90 crore order from BEL to deliver radar processing equipment.

Axiscades stated in a statement that the order is for the design, development, and supply of eight radar processing systems for the Arudhra Medium Powered Radar (MPR), a BEL project for the military industry. 

The systems will be delivered over four years, it said.

Arun Krishnamurthi, the CEO and MD of Axiscades Technologies, said, "We are working to actively support indigenous defence projects, and this order is a significant step in our commitment to deliver advanced technological solutions to enhance India's defence capabilities."  

Axiscades share price history

Shares of Axiscades closed trading at Rs 506.5 each, down almost 1 per cent today, May 26 on BSE. However, the stock touched the highest level of Rs 523.95. 

The 52-week high of the company's share is Rs 848 and the low is Rs 345.65. The market cap of the company is Rs 2,124.47 crore. Talking about the returns of the stock, it has fallen by 16 per cent in one week, 20 per cent in one month, 24 per cent in 3 months and 9 per cent in 6 months. However, the stock has increased by 40 per cent in one year, 275 per cent in 2 years, and more than 550 per cent in 3 years.

The views/suggestions/advices expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.

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