Astra Microwave Products share price jumped over 6% on Friday after the company announced receipt of an order from the Ministry of Defence. The multibagger defence stock spiked as much as 6.5% to a high of ₹868.50 apiece on the BSE.
Astra Microwave Products said that its Joint Venture company, Astra Rafael Comsys Private Limited, has bagged ₹255.88 crore worth of order from the Ministry of Defence.
The order is for procurement of 93 numbers of additional sets of Software Defined Radios (SDR) LRUs with A kits, SBC 2 card and Network Centric Operations application for the Su-30 MKI fighter aircraft, by the Indian Air Force, Astra Microwave Products said in a regulatory filing on December 13.
The time period by which the contract is to be executed is within 24 months.
“We wish to inform you that we will be receiving a good portion of business from this order from Astra Rafael Comsys Private Limited, Joint Venture company,” Astra Microwave Products added.
Astra Microwave Products Share Price Trend
Astra Microwave Products share is a small-cap multibagger defence stock that has delivered strong returns to investors. Astra Microwave Products shares have risen over 14% in one month and more than 40% year-to-date (YTD). The smallcap stock has jumped 175% in two years and 900% in the past five year period.
Meanwhile, the benchmark BSE SmallCap index has rallied over 33% YTD, 91% in two years and more than 325% in the past five year period.
At 1:45 PM, Astra Microwave Products shares were trading 3.69% higher at ₹845.30 apiece on the BSE with a market capitalisation of more than ₹8,000 crore.
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