Axiscades Technologies shares close flat post order win from BEL

Shares of Axiscades Technologies ended on a flat note today even as the firm said its subsidiary won an order worth Rs 90 crore from Bharat Electronics Limited (BEL). Axiscades Technologies stock ended 0.99% lower at Rs 506.45 against the previous close of Rs 511.50. Market cap of the firm stood at Rs 2124.47 on BSE.

The stock has delivered multibagger returns of 274% in the last one year and risen 546% in three years.

In terms of technicals, the relative strength index (RSI) of the stock stands at 32.2, signaling the stock is trading neither in the overbought nor in the oversold zone. Axiscades Technologies shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has a one-year beta of 0.3 signaling that it has seen low volatility during the period. 

“Axiscades Technologies subsidiary Mistral Solutions, a leading embedded design and system engineering company, has achieved a significant milestone by securing a large order from Bharat Electronics Limited (BEL), a premier Aerospace and Defense electronics company in Bangalore owned by the Government of India. The order entails design, development, and supply of eight Radar Processing Systems for the Arudhra Medium Powered Radar (MPR). With a gross order value of Rs 90 crore, the systems will be delivered over a span of four years,” said Axiscades Technologies in a communication to BSE.

Axiscades Technologies is an India-based end-to-end technology and engineering solutions provider. The company offers product engineering solutions across embedded software and hardware, digitisation and automation, mechanical engineering, system integration, test solutions, manufacturing engineering, technical publications, and aftermarket solutions.