DSIJ Mindshare

The approval of these capital acquisition proposals is a significant step towards modernizing the Indian Armed Forces and enhancing their combat readiness. The procurement of these weapons and systems from Indigenous vendors will boost self-reliance in defence production and reduce dependence on foreign suppliers.

Ever since the second week of June, the stock had found itself ensnared within the boundaries of Rs 6.50 to Rs 9.05. The shackles finally shattered on Friday, as the stock soared above this range on the wings of robust trading volumes.

With optimism in the small-cap sector stocks, the advance-decline ratio reveals that approximately 1,600 stocks are on the rise, while 1,323 stocks are experiencing declines.

In FY23, net sales increased by 44 per cent to Rs 2,780 crore compared to FY22. The company reported a net profit of Rs 126 crore in FY23, compared to a net loss of Rs 1 crore in FY22. The company has reduced its debt and delivered a strong profit growth of 24.1 per cent CAGR over the last 5 years.

The shares of the company have generated an impressive return of 380% in the last two years.