AXISCADES spurts after twin order wins

AXISCADES Engineering Technologies gained 7.46% to Rs 93.65 at 09:22 IST on BSE after the company's wholly owned subsidiary announced winning of two contracts.

The announcement was made after market hours yesterday, 27 November 2018.

Meanwhile, the S&P BSE Sensex was up 189.28 points or 0.53% at 35,702.42.

On the BSE, 27,000 shares were traded on the counter so far as against average daily volumes of 46,000 shares in the past two weeks. The stock had hit a high of Rs 96.65 and a low of Rs 92.95 so far during the day. The stock had hit a 52-week high of Rs 228 on 12 January 2018 and a 52-week low of Rs 63.20 on 25 October 2017.

AXISCADES Aerospace & Technologies, a wholly owned subsidiary of AXISCADES Engineering Technologies (AXISCADES), announced winning of two contracts - one with global OEM for design to build of test equipment and maintenance of strategic systems and the other for building subsystems of full motion full mission simulator. Both these contracts have initial value of $20 million with potential to multiply.

AXISCADES Aerospace & Technologies is a fast growing niche technology company focused on high-end strategic technologies for the aerospace and defense domain, product and solutions.

On a consolidated basis, AXISCADES Engineering Technologies' net profit dropped 91.3% to Rs 0.08 crore on 49.46% rise in total income to Rs 178.41 crore in Q2 September 2018 over Q2 September 2017.

AXISCADES Engineering Technologies is a product engineering and hightechnology solutions company catering to the futuristic needs of aerospace, defense, heavy engineering, automotive, energy, medical & healthcare sectors.

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