Shares of Axiscades Technologies hit a 5% upper circuit following the announcement of a strategic partnership with Indra, a leading Spanish defense and technology company. The two firms have signed a Memorandum of Understanding (MoU) to jointly manufacture key aerospace and defense solutions in India.
The agreement was signed during the Aerospace Show in Le Bourget by José Vicente de los Mozos, CEO of Indra, and Dr. Sampath Ravinarayanan, Chairman of AXISCADES, in the presence of senior leadership from both companies.
As part of the collaboration, AXISCADES will support the local production of Indra’s tactical systems including antennas for Tactical Air Navigation Systems (TACAN), Distance Measuring Equipment (DME), and countermeasure systems aimed at protecting aircraft from guided missile threats like MANPADS.
This partnership aligns with India’s ‘Make in India’ initiative and is expected to bolster AXISCADES’ technological capabilities in aerospace and defense manufacturing. Indra, which already has a strong footprint in India through defense and civil aviation projects, aims to deepen its supply chain integration with local firms.
The companies are also evaluating further collaborations on MPA Airborne Solutions and potential partnerships for DRDO’s CABS MRMR and MMMA programs.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.