Shares of DCX Systems Ltd. were locked in a 5% upper circuit on Monday after it received multiple orders totalling Rs 107.09 crore from both domestic and foreign investors.
The received orders are for supplying electronic kits, wire harnesses, and assemblies. DCX Systems said in an exchange filing on Friday that it expects to complete the project in 12 months.
The company refrained from disclosing the names of the customers who placed the orders in the exchange filing.
DCX Systems manufactures and supplies electronic subsystems, wire harnesses, and cables for the defense and aerospace sectors in India and overseas markets.
On Monday, the stock snapped a three-session slump and rose to a nearly one-week high.
DCX Systems Ltd.'s share prices hit a 5% upper circuit.
Share of DCX Systems gained 5% to hit the upper circuit of Rs 337.95 apiece. It remained locked in 5% upper circuit as of 11:00 a.m., compared to 0.05% advance in the NSE Nifty 50 index.
The stock gained 20.105 in last 12 months but declined 0.98% on year to date basis. Total traded volume so far in the day stood at 2.6 times its 30-day average. The relative strength index was at 39.73.
All the three analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 46.3%
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