Moneycontrol
Last Updated : Nov 28, 2018 12:23 PM IST | Source: Moneycontrol.com

AXISCADES Engineering gains 11% as company subsidiary wins 2 contracts

Two key contracts includes one with Global OEM for design to build of Test Equipment and Maintenance of Strategic Systems and the other for building subsystems of Full Motion Full Mission Simulator.

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AXISCADES Engineering Technologies shares gained 11 percent intraday Wednesday after company subsidiary wins two contracts.

AXISCADES Aerospace & Technologies, a wholly owned subsidiary of AXISCADES Engineering Technologies announced winning of two key contracts – one with Global OEM for design to build of Test Equipment and Maintenance of Strategic Systems and the other for building subsystems of Full Motion Full Mission Simulator.

The above contracts have been won against stiff global competition, reinforcing strong technical capabilities, core domain knowledge in designing and developing complex technology products and solutions. Both these contracts have initial value of USD 20 million with potential to multiply, company said in release.

Kaushik Sarkar, CFO of AXISCADES said, "These wins in complex technology products and solutions for Global clients mark an important milestone in growth and development of this franchise.”

At 12:15 hrs AXISCADES Engineering Technologies was quoting at Rs 93.65, up Rs 6.50, or 7.46 percent on the BSE.

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First Published on Nov 28, 2018 12:23 pm
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