Data Patterns shares climb 7% as firm inks tech transfer deal with IN-SPACe
Data Patterns shares rose 6.75% to Rs 2130 against the previous close of Rs 1995.15 on BSE.
- Oct 17, 2023,
- Updated Oct 17, 2023 3:00 PM IST
Shares of Data Patterns (India) Ltd zoomed nearly 7% today after the firm said it inked a licensing and transfer of technology (ToT) agreement with IN-SPACe, to acquire miniature SAR radar capability. IN-SPACe is a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DoS).
Data Patterns shares rose 6.75% to Rs 2130 against the previous close of Rs 1995.15 on BSE.
Data Patterns stock opened higher at Rs 2005.45. Market cap of the firm rose to Rs 11,678 crore. Data Patterns shares have gained 62% in a year and risen 86.51% since the beginning of this year. Total 0.28 lakh shares of the firm changed hands amounting to a turnover of Rs 5.76 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Data Patterns stands at 37.1, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 1.2, indicating high volatility during the period. Data Patterns stock is trading higher than the 5 day, 10 day, 20-day, 100-day and 200-day but lower than the 30-day and 50-day moving averages.
The technology has been developed at Space Applications Centre (SAC), ISRO and is the forerunner of ISRO's upcoming high resolution SAR satellite, the NISAR and made available for ToT to the industry by IN-SPACe.
G. Kuppuswamy, Vice President, Data Patterns (India) said, “We are delighted to be associated with INSPACe. This technology will enable SAR radar development by Data Patterns, complementing the large portfolio of Radars already available from the company. Data Patterns expects to enhance this technology with its capability with Artificial Intelligence (AI) tools for object detection and classification. This alliance is also a step towards utilising India's space resources better and increasing space-based activities.”
Data Patterns (India) Limited is an India-based vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defense products industry. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave. It designs COTS module products that are used in rugged applications and automatic test equipment platforms.
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Shares of Data Patterns (India) Ltd zoomed nearly 7% today after the firm said it inked a licensing and transfer of technology (ToT) agreement with IN-SPACe, to acquire miniature SAR radar capability. IN-SPACe is a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DoS).
Data Patterns shares rose 6.75% to Rs 2130 against the previous close of Rs 1995.15 on BSE.
Data Patterns stock opened higher at Rs 2005.45. Market cap of the firm rose to Rs 11,678 crore. Data Patterns shares have gained 62% in a year and risen 86.51% since the beginning of this year. Total 0.28 lakh shares of the firm changed hands amounting to a turnover of Rs 5.76 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Data Patterns stands at 37.1, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 1.2, indicating high volatility during the period. Data Patterns stock is trading higher than the 5 day, 10 day, 20-day, 100-day and 200-day but lower than the 30-day and 50-day moving averages.
The technology has been developed at Space Applications Centre (SAC), ISRO and is the forerunner of ISRO's upcoming high resolution SAR satellite, the NISAR and made available for ToT to the industry by IN-SPACe.
G. Kuppuswamy, Vice President, Data Patterns (India) said, “We are delighted to be associated with INSPACe. This technology will enable SAR radar development by Data Patterns, complementing the large portfolio of Radars already available from the company. Data Patterns expects to enhance this technology with its capability with Artificial Intelligence (AI) tools for object detection and classification. This alliance is also a step towards utilising India's space resources better and increasing space-based activities.”
Data Patterns (India) Limited is an India-based vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defense products industry. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave. It designs COTS module products that are used in rugged applications and automatic test equipment platforms.
Also read: Multibagger Adani Group stock rebounds 155% from 52-week low; is it a good time to buy?
Also read: Hot stocks on October 17, 2023: Grasim, RVNL, Cyient DLM, VA Tech Wabag, IRFC and more