AXISCADES Engineering gains 11% on MoU with Airbus Group

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Moneycontrol Bureau

Shares of AXISCADES Engineering Technologies climbed 10.8 percent intraday on Thursday on signing MoU at Aero India for collaboration to deliver enhanced values to Airbus Group.

This collaboration provides Airbus Group with a significant value addition for its projects in engineering services by two established E2S preferred suppliers.

"This relationship will strengthen engineering service offerings to global clients like Airbus. This strategic partnership is in line with our Global OEM outsourcing strategy," says Sudhakar Gande, Group vice chairman.

AXISCADES is a technology solutions provider, catering to the needs of aerospace, defence, heavy engineering, automotive and industrial production sectors.

At 11:16 hours IST, the scrip of AXISCADES was trading at Rs 218.20, up Rs 5.80 or 2.73 percent on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar