Rs 2,099 crore order book and FIIs & DIIs increase stake: Aerospace & defence company has signed a joint venture agreement with Manjeera Digital Systems Pvt Ltd
The stock is up by 66 per cent from its 52-week low of Rs 479.25 per share and gave multibagger returns of 950 per cent in 5 years.
Today, the shares of Astra Microwave Products Ltd plunged 2.10 per cent to Rs 798 per share from its previous closing of Rs 815.15. The stock is up by 66 per cent from its 52-week low of Rs 479.25 per share and gave multibagger returns of 950 per cent in 5 years.
Astra Microwave Products Limited has entered into a strategic Joint Venture Agreement with Manjeera Digital Systems Private Limited to establish a new entity for the manufacturing of NavIC chip and GNSS products. Both partners will hold equal shares in the joint venture. The agreement outlines the governance structure, with each party appointing two directors to the board. Key managerial positions like CEO, CFO, and other key roles will be jointly appointed by both parties. This collaboration aims to leverage the strengths of both companies to advance India's indigenous navigation and positioning capabilities.
Astra Microwave Products Ltd. is a leader in advanced technology for national security and communication systems, specializing in radio frequency (RF) and microwave components. They design, develop, and manufacture not only individual high-performance parts (super components) but also entire subsystems and complete systems for defence, space exploration, meteorology, telecommunication, and even civil communication applications. In simpler terms, their technology plays a critical role in everything from military radars and spacecraft electronics to weather stations and mobile phone networks.
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The company has a market capitalisation of over Rs 7,500 crore. As of June 30, 2023, the company’s order book stands at Rs 2,099 crore which is executable in the next 12 to 36 months period. Additionally, as of September 2024, an ace investor, Atim Kabra owns a 3.53 per cent stake. Furthermore, FIIs & DIIs have increased their stake to 5.69 per cent and 14.98 per cent, respectively in June 2024 compared to June 2024.
Investors should keep an eye on this Small-Cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.