Around 11:00 AM, DCX Systems shares were off day's high, but continued to trade 1.2 per cent higher at ₹240.05 per share. By comparison, BSE Sensex was trading flat at 80,417.21 levels.
DCX Systems share rose after signing a non-binding MoU with the Tamil Nadu Govt to establish a state-of-the-art manufacturing facility for its upcoming joint venture with Israel's ELTA Systems.
Thus far in the month of July, Nifty India Defence index has underperformed the market by falling 12 per cent, as against 3.3 per cent decline in Nifty 50.