Astra Microwave shares surge over 5% following Rs 255.88 crore defense order

By Aditya Bhagchandani Published on December 13, 2024, 13:20 IST

Shares of Astra Microwave Products Ltd surged by over 5% in today’s trading session, reaching ₹858.70, after its joint venture Astra Rafael Comsys Pvt Ltd secured a significant ₹255.88 crore order from the Ministry of Defence. The contract underscores Astra Rafael Comsys’s expertise in defense technology and aligns with India’s push towards indigenous defense production.

Key Highlights:

Order Value: ₹255.88 crore
Scope: Supply of 93 Software Defined Radios (SDRs) and associated components for Su-30 MKI fighter jets
Execution Timeline: Within 24 months
Type of Transaction: Domestic and not a related party transaction

This development reflects Astra Rafael Comsys’s robust capabilities in delivering advanced defense systems and highlights India’s ongoing focus on strengthening local manufacturing in the defense sector.

Astra Microwave

Aditya Bhagchandani

Aditya is a versatile writer and journalist with a passion for sports and a wide range of experiences in business, politics, tech, health, and the market. With a unique perspective, he captivates readers through engaging storytelling.