Shares of AXISCADES Engineering today jumped over 9 per cent after the company signed a strategic agreement with Airbus.
In a regulatory filing on December 1, the company said that it has signed a strategic agreement with Airbus to provide a range of critical engineering services for all Airbus aircraft programmes as Tier - 1 supplier.
The services will be provided from a dedicated development centre in Bengaluru.
Following the announcement, shares of the company today opened at Rs 184, then jumped 15.26 per cent to touch an intra-day high of Rs 205 on BSE. At the end of today's trading session, the stock was quoted at Rs 194.10, up 9.14 per cent.
Similar movement was seen on NSE as well, where the stock opened at Rs 183, then jumped 15.08 per cent to an intra-day high of Rs 204.90 and finally settled for the day at Rs 194.55, up 9.27 per cent.
The uptick in the counter assumes significance as the broader market closed in the negative territory. The 30-share BSE Sensex settled for the day at 26,230.66, down 329.26 points.