29 Oct 2024

DCX Systems Reaches Upper Circuit as Subsidiary Secures Major Export Deal with Lockheed Martin

DCX Systems’ stock surged to its upper circuit at Rs. 322.10, marking a gain of 15.30 points or 4.99% from its previous close of Rs. 306.80 on the BSE. The stock opened and traded consistently at Rs. 322.10, with a trading volume of 20,183 shares.

This BSE group 'B' stock, with a face value of Rs. 2, previously reached a 52-week high of Rs. 451.90 on July 3, 2024, and a low of Rs. 235.00 on March 13, 2024. Over the past week, it saw a high and low of Rs. 322.10 and Rs. 280.05, respectively, with a market cap of Rs. 3,417.34 crore.

In terms of ownership, promoters hold 57.12% of the company, while institutions and non-institutional investors own 8.65% and 34.23%, respectively.

The rise follows DCX Systems’ subsidiary, Raneal Advanced Systems, securing a $45.2 million (approximately Rs. 379.67 crore) export order from Lockheed Martin Global Inc. for electronic assemblies. This order is expected to be fulfilled within the next 12 months.

DCX Systems specializes in system integration, manufacturing cable and wire harness assemblies, and kitting services.