DCX Systems shares stuck in upper circuit at fag end of trade, here’s why

Shares of DCX Systems hit an upper circuit of 5% in the fag end of trade on Wednesday after the firm said it won an order for US$ 22,323,200.00 (About Rs 187.29 crore from an overseas customer. The order relates to the supply of electronic kits and is to be executed within 12 months.

DCX Systems is a manufacturer of cables and wire harness assemblies. Shares of DCX Systems hit upper circuit of 5% to a high of Rs 347 against the previous close of Rs 330.50 on BSE.

Market cap of DCX Systems climbed to Rs 3,865.11 crore on BSE. Total 1.88 lakh shares of the firm changed hands amounting to a turnover of Rs 6.45 crore.

The stock has a beta of 1.4, indicating high volatility in a year.  

In terms of technicals, the relative strength index (RSI) of DCX Systems stands at 38.6, signaling it's trading in the neither in overbought nor in the oversold territory. DCX Systems shares are trading higher than the 5 day, 10 day, 50 day, 100 day, 150 day and 200 day moving averages.

“Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Company has received contract/order for US$ 22,323,200.00 (Equivalent to about INR 187.29 Crores at exchange rate of 1 USD = INR 83.90) from Overseas Customer,” said the firm in a communication to bourses.

DCX Systems is one of the leading for Electronic Systems and cable harnesses for both International and Domestic reputed customers.