Axiscades Technology rises 5% as arm wins contract worth $1 million
Axiscades Technology stock rose 4.99 per cent to ₹1,156 on the National Stock Exchange (NSE) in Friday's trade.
 "Axiscades Technology rises 5% as arm wins contract worth $1 million")
Axiscades Technology share price today
Axiscades Technology share price rose 5 per cent on Friday after the company said it’s arm secured a contract worth $1 million. The scrip rose 4.99 per cent to ₹1,156 on the National Stock Exchange (NSE).
In the 12 months, Axiscades Technology share price has increased by 56.93 per cent, as compared to 7.97 per cent advance in the Nifty 50 index.
The counter saw trades of 0.14 million shares on the National Stock Exchange (NSE). The company has a total market capitalisation of ₹4,889.50 crore. Axiscades Technology share price ended 3.97 per cent higher at ₹1,144.90, as compared to 0.95 per cent decline in the Nifty 50 index
Why did Axiscades Technology share price rise today?
Axiscades Technology share price rose in Friday’s session on news that its wholly-owned subsidiary Mistral Solution fetched a multi-year contract worth $1 million in its electronics, semiconductor, and artificial intelligence segment (ESAI).
Under the contract, Mistral Solution will test the audio products of its Hyperscaler Customer in the newly established acoustic lab in aeroland facility, Bengaluru, the company said in an exchange filing.
The contract will generate more opportunities in innovative audio product development, Axiscades Technology said in an exchange filing. “These small form factor audio products stand out through advanced spatial audio processing, custom silicon for superior noise cancellation, and seamless integration with artificial intelligence for proactive, ambient artificial experiences."
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Technical view
Axiscades Technology remains under pressure after a sharp breakdown from the ₹1,250–1,300 zone. Prices are currently trading below both the 50-day moving average and the 200-day moving average, indicating a weak short-term trend, said Vikash Yadav, technical research analyst at Kedia Advisory.
The recent fall was accompanied by a spike in volume, suggesting panic selling rather than orderly profit booking. Immediate support is placed near ₹1,120, followed by a critical stop-loss zone around ₹1,050, he said.
From a trading perspective, the structure supports a cautious long setup only if prices hold above the recent base. Sustained weakness below ₹1,050 would negate recovery chances and open further downside risk, he added.
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