DCX Systems On Record-high After Rs 1,250 Cr Order From L&T
Larsen and Toubro awards the order for the manufacture and supply of electronic modules
Stocks of DCX Systems rose over 15 per cent to a record high of Rs 440 in the Tuesday trading session after the firm received a mega order from Larsen and Toubro.
DCX Systems stocks traded at Rs 433 with 14.23 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“Pursuant to regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the company has received a contract for Rs 1,250 crore from a reputed Indian conglomerate,” said DCX System in an exchange filing.
Larsen and Toubro awarded the order for the manufacture and supply of electronic modules.
The Rs 1,250 crore order is expected to be completed within three years.
With the strong surge, market capitalisation of DCX System climbed to Rs 4,874 crore on Bombay Stock Exchange (NSE). In terms of volume, total of 1.83 lakh shares changed hands amounting to a turnover of Rs 7.82 crore.
In terms of stocks performance, DCX System has delivered nearly 30 per cent return, while the benchmark indices Nifty and Sensex grew 11 per cent year-to-date (YTD).
