Centum Electronics Rises Over 6% On DRDO Order Win
The company has received the order for realisation of space-based EW Payloads, which will be executed in over 16 months, it said.
Shares of Centum Electronics Ltd. rose over 6% to one-week high on Wednesday after it secured an order worth Rs 187 crore from Defence Research and Development Organisation.
The company has received the order for realisation of space-based EW Payloads, which will be executed in over 16 months, according to an exchange filing.
Shares of the company rose as much as 6.65% to Rs 1,985.00 apiece, the highest level since Feb 27. It pared gains to trade 0.82% higher at Rs 1,876.45 apiece as of 9:55 a.m. This compares to a 0.20% decline in the NSE Nifty 50 Index.
The stock has risen 219.70% in past 12 months. Total traded volume so far in the day stood at 5.6 times its 30-day average. The relative strength index was at 60.80.
One analyst maintained a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 14.1%.
