Data Patterns shares rise 6% on project win from DRDO, check details

Shares of Data Patterns (India) Ltd ended 6% higher today after Defence Research & Development Organisation (DRDO) sanctioned a new project to the defence firm under the Technology Development Fund scheme. The project relates to development of radar signal processor with active antenna array simulator. 

"The project will enable deployment of multiple target systems for test and evaluation of multiple short range aerial weapon systems. It serves as the basic building block for larger radar systems," said a release on PIB. 

Data Patterns stock climbed 7.80% intraday to Rs 3451.555 on the BSE. The firm logged a turnover of Rs 23.85 crore on BSE. Later, the stock closed 6.01% higher at Rs 3394.10 on BSE. Earlier, Data Patterns stock opened flat at Rs 3202.70. Market cap of the firm rose to Rs 19,001 crore. Data Patterns shares have gained 74% in a year and risen 84.51% since the beginning of this year.

The stock has a one-year beta of 0.9, indicating low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Data Patterns stands at 58.9, signaling  neither the stock is overbought nor oversold. Data Patterns stock is trading higher than the 5 day, 10 day, 20-day, 100-day and 200-day averages.

Data Patterns (India) Limited is an India-based vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defense products industry. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave. It designs COTS module products that are used in rugged applications and automatic test equipment platforms.