DCX Systems shares rise in early trade after board approves raising up to Rs 500 crore

Shares of DCX Systems Ltd rose over 2% today after the firm said its board has approved raising of up to Rs 500 crore. DCX Systems shares gained 2.55% to an intraday high of Rs 324.95 against the previous close of Rs 316.85 on BSE. Market cap of the firm rose to Rs 3143.04 crore on BSE. In terms of technicals, the relative strength index (RSI) of the DCX Systems stock stands at 64.5, signaling it's trading neither in the overbought not in the oversold zone. DCX Systems shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.

The aerospace stock has risen 26.74 per cent in one year and risen 47.31 per cent since the beginning of this year.

The share opened at Rs 324.95 on BSE. Total 1018 shares of the firm changed hands amounting to a turnover of Rs 3.30 crore on BSE. The share hit a 52-week high of Rs 351.30 on September 5, 2023 and a 52-week low of Rs 138.90 on March 28, 2023.

“Raising of funds for an aggregate amount of up to and not exceeding Rs 5,000 million (Rupees five thousand million), in one or more tranches and/or one or more issuances, simultaneously or otherwise, including by way of public issue, preferential issue, rights issue, private placement(s), qualified institutions placement(s) and/or any combination thereof or any other method as may be permitted in accordance with the applicable provisions of the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, (each as amended) and any other applicable law, in such manner, and on such terms and conditions as may be deemed appropriate by the Board in its absolute discretion, subject to the receipt of necessary approvals, including the approval of the members of the Company and such other regulatory and statutory approvals as maybe required,” said the firm in a communication to bourses.

DCX Systems is one of the leading Indian defence manufacturing player offering a full service and manufacture of electronic systems and cable harnesses for both international and domestic reputed customers.

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