Intraday Spotlight: This defence stock has jumped over 14 per cent today

The company is a leading gainer in A group as investors stay bullish in the defence sector

Astra Microwave Products Ltd designs and manufactures technological systems used in defence and other areas, has jumped by over 14 per cent today from its previous close of Rs 186.80. The stock opened at Rs 182.50 and has made its day high of Rs 216.60. As of 3:10 pm today, the stock was trading near Rs 212.50 on the BSE. The company is leading the A group when volatility has been dominating the markets. 

With Sensex falling below the levels of 53,000, it witnessed a bounce back by nearly 600 points today, and this defence company rallied on the backs of investors/analysts being bullish on the sector as the ongoing geopolitical situation might lead to increased expenditure for defence. For the quarter ended December, the company reported good growth of 12 per cent in revenues and a slight growth of 2.7 per cent in net profit on a YoY basis.   

Astra Microwave Products Limited (AMPL) designs, develops and manufactures subsystems for RF and microwave systems used in defence, space, meteorology and telecommunication. The stock has a 52-week high and low of Rs 290.55 and Rs 111, respectively.