Axiscades Technologies hit 5% upper circuit as arm wins ₹80-crore order

Axiscades Technologies shares hit a 5 per cent upper circuit on the BSE at ₹1,178.4 per share. The buying on the counter came after the company announced a new win in the defence division by its subsidiary Mistral Solutions.

 

At 11:25 AM, Axiscades Technologies’ share price was locked in the 5 per cent upper band on BSE. In comparison, BSE Sensex was up 0.59 per cent at 84,073.4. 

 

Axiscades Technologies announced that its subsidiary Mistral Solutions has received an order worth about ₹80 crore under Hindustan Aeronautics Ltd’s (HAL) LCA Mk1A programme, in a move the company said supports the push for indigenisation of avionics systems.

 

 

In an exchange filing, Axiscades said Mistral will supply electronic hardware for critical subsystems, including the Mission Computer and Smart Multifunction Display for the programme. The company added that the systems will be manufactured and delivered from AXISCADES’ newly commissioned DAL (Devanahalli Atmanirbhar Complex) facility at the Bangalore Aerospace Park, near Kempegowda International Airport.

 

“This programme win reflects the Axiscades Group’s continued commitment to defence indigenisation and the ‘Make in India’ initiative,” C. Manikandan, CEO, Mistral Solutions, said in the release, adding that the win positions the group for participation in upcoming defence programmes.

 

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, Defence and ESAI domains. Headquartered in Bangalore with subsidiaries and offices worldwide, in France, Germany, Denmark, the USA, and Canada. The company has a diverse team of over 3,000 professionals working across 17 locations across globe, striving to reduce the program risk and time to market, according to the filing. 

 

The company has long term relationship with the defence forces, the MoD, defence labs and PSUs along with global OEMs. Axiscades possesses deep domain experience in Weapon Systems, Avionics, Radar, Electronic Warfare, C4I2, Drones, Anti-Drone Systems, Test Solutions, GSE, and GHE. The company has executed several innovative in-house projects and partnered solutions for Land, Naval, Aerospace, and Homeland Security.