On August 28, DCX Systems surged 4% at Rs 344 after it received an order of Rs 187 crore from an overseas client. The said order is for supplying electronic kits and will be executed within a period of 12 months.
This order comes after a similar win in the beginning of the month, when DCX Systems secured an order worth Rs 107 crore pertaining to electronic kits, cables and wire harness assemblies. However, despite these wins, its stock has gained moderately in the last three months by over 8%, marginally laggard to the 9% gain seen in the Nifty index.
The company manufacturing electronic subsystems and cable harnesses for the aerospace and defense industries had a tough first quarter, with revenues falling 19% YoY and net profit declining by 69%. However, KR Choksey analysts remain positive on the counter and, in their latest report, have issued a ‘buy’ recommendation with a target price of Rs 519, implying a potential upside of 50% over strong order book and long-term growth prospects.
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Source: Moneycontrol
News Desk
