This small-cap defence company's stock surges 5% as firm bags ₹460 crore order; check details

The order received is for the supply of electronic assemblies. The order is expected to be completed within 12 months. 

Lockheed Martin Corporation is an American defense and aerospace manufacturer. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. The company is headquartered in North Bethesda, Maryland.

Shares of DCX Systems made their market debut on November 11, 2022, with a nearly 39% premium against the issue price of ₹207.

The initial public offering (IPO) of DCX Systems was subscribed 69.79 times.

The offer had a fresh issue of up to ₹400 crore and an offer for sale of up to ₹100 crore.

Its price range was fixed at ₹197-₹207 a share.

DCX Systems Limited operates as an aerospace company. The company offers strategic defence and aerospace electronics solutions, such as an array of cable and wire harnesses and a complete set-up for environmental and electrical testing. It was established in 2011.

On a year-to-date (YTD) basis, shares of DCX Systems have slipped 2%. Over the past 12 months, the stock has gained over 18%. 

The company, as per news reports, also has an MOU signed with Israeli Aerospace India Service for supply and repair services, enhancing MRO capabilities. The company's order book stands at Rs 1,937 crore, with a pipeline of orders that it says is expected to grow further.

MRO stands for maintenance, repair, and overhaul. 

In January this year, DCX Systems raised ₹500 crore through a qualified institutional placement (QIP) of shares.