Multibagger update: This Radhakishan Damani defence stock traded at a new 52-week high while generating stellar returns of 114 per cent in just one year!

The company's prospect is positive due to its role as a strategic partner for DRDO and its participation in every significant launch of an Indian satellite since 2008.

Incorporated in 1991, Astra Microwave Products is in the business of designing, developing & manufacturing a wide range of specialised products and sub-systems for radio frequency as well as microwave systems used in defence, space, meteorology, and telecommunication.  

Opportunities are emerging for the company to create and supply goods that are on the government's list of prohibited imports. The company's prospect is positive due to its role as a strategic partner for DRDO and its participation in every significant launch of an Indian satellite since 2008.   

On an intraday basis on Thursday, the shares of Astra Microwave Products touched a fresh 52-week high of Rs 332.75 per share on BSE. It soared nearly 35 per cent in a single month while it has provided shareholders with stellar returns of 114 per cent in just one year!    

Considering its yearly performance, the net profit of the company surged 26.61 per cent to Rs 40.12 crore as against Rs 31.69 crore during the previous year. Also, net sales rose 17.09 per cent to Rs 750.46 crore as against Rs 640.91 crore during the previous year ended in March 2021.  

The shareholding pattern data revealed that renowned investor Radhakishan Damani owned 1.03 per cent of Astra Microwave Products at the end of the June 2022 quarter.  

Keep a close eye on this scrip for the upcoming sessions!