Axiscades hits 5% upper circuit for second consecutive session; here's why

Axiscades Technologies shares hit 5 per cent upper circuit for the second session in a row on BSE at Rs 776.85 per share. The stock gained after the company's subsidiary Mistral Solutions announced a strategic partnership with Altera.

 

Around 12:18 PM, Axiscades share price was up 4.99 per cent at Rs 776.85 per share on BSE. In comparison, the BSE Sensex was up 0.30 per cent at 73,948.78. The market capitalisation of the company stood at Rs 3,301.27 crore. The 52-week high of the stock was at Rs 839.4 per share and the 52-week low was at Rs 421.05 per share. 

 

Under the collaboration, both companies will advance high-performance computing solutions for mission-critical defense applications.

 

"Mistral Solutions Private Ltd, (Mistral) a subsidiary of AXISCADES Technologies Limited (AXISCADES), a chip to product company and a pioneer in Defense, Electronics, Semiconductor and Artificial Intelligent (ESAI) applications, proudly announces a strategic partnership with Altera (an Intel Company) to advance high-performance computing solutions for mission-critical defense applications," the filing read. 

 

The filling further said that this collaboration aims to leverage Altera Agilex 9 Direct RF FPGA technology to drive next-generation innovations in defense and aerospace industries.

 

“We are excited to join hands with Altera in accelerating defense technology innovation. This strategic collaboration will empower defense programs with high-performance computing, enabling realtime data processing and ultra-low latency communication. By integrating Altera Agilex™ 9 Direct RF FPGA technology into our solutions, we are set to revolutionize mission-critical applications with unparalleled processing power and efficiency," said  D Murali Krishnan, CEO, Mistral Solutions. 

 

Axiscades is a leading, end-to-end technology, product and solutions provider aiding the creation of innovative, sustainable, and safer products worldwide in the Aerospace, Defense and ESAI domains. Headquartered in Bangalore with subsidiaries and offices worldwide, in France, Germany, Denmark, USA, and Canada. AXISCADES has a diverse team of over 3000+ professionals working across 15 locations across globe, striving to reduce the program risk and time to market. 

 

The company has a long term relationship with Defense Forces, MoD, Defense Labs and PSUs along with global OEMs. AXISCADES possesses expertise in Airborne Systems & Telemetry, Radar & Sonar systems, Electronic Warfare Solutions, C4I2, Drones, Anti-Drone Systems, Test Solutions, GSE and GHE. We have executed several innovative in-house projects and partnered solutions for Land, Naval, Aerospace and Home Land Security. 

 

In the past one year, Axiscades shares have gained 19 per cent against Sensex's decline of 0.48 per cent.