Multibagger stock rises 6% on order win from defence ministry

Shares of Astra Microwave Products Ltd rose over 6% in a highly volatilie market today after the aerospace and defence firm said its joint venture firm  won an order worth Rs 255.88 crore from the ministry of defence. Astra Microwave Products stock climbed 6.53% to Rs 868.50 against the previous close of Rs 815.25 on BSE. Market cap of the multibagger stock stood at Rs 7,885 crore. Later, the multibagger stock ended  1.88% higher at Rs 830.55. 

Turnover rose to Rs 4.02 crore as 0.48 lakh shares of the firm changed hands on BSE. In terms of technicals, the relative strength index (RSI) of Astra Microwave stands at 59.2, signaling it's trading neither in the overbought nor in the oversold territory. Shares of Astra Microwave are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. 

The multibagger stock delivered stellar returns of 168% in two years and gained 226% in three years. In five years, the stock is up 852.47%. 

"Astra Rafael Comsys Private Limited, our Joint Venture company, has bagged Rs 255.88 crores worth of order on 13th December, 2024 from Ministry of Defence 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," said the firm. 

Astra Microwave Products is engaged in design, development, manufacture and supply of high value added RF and microwave super components, sub-systems and systems finding for Defense, space, telecom, meteorology and civil communication applications.