Rs 1,960 crore order book: Multibagger defence stock jumps 12.8 per cent with heavy volume; Here’s why!
The stock is up by 77.2 per cent from its 52-week low of Rs 584.20 per share and has given multibagger returns of 1,470 per cent in 5 years.
On Thursday, the shares of Astra Microwave Products Ltd jumped 12.8 per cent to Rs 1,035 per share from its previous closing of Rs 917.75 per share. The stock is up by 77.2 per cent from its 52-week low of Rs 584.20 per share and has given multibagger returns of 1,470 per cent in 5 years. The shares of the company saw a spurt in volume by more than 2.70 times.
Astra Microwave Products Limited has announced that its board of directors will convene on May 20, 2025, to consider a proposal for raising funds. This initiative, disclosed under Regulation 29(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, may involve issuing equity shares or other securities such as convertible or non-convertible debentures, or warrants. The company is exploring various methods for this, including qualified institutional placements, private placements, or preferential issues, in compliance with SEBI and Companies Act regulations. Additionally, the board will discuss holding an Extraordinary General Meeting or initiating a postal ballot to secure shareholder approval for the proposed fundraising.
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About the Company
Astra Microwave Products Ltd. is a leader in advanced technology for national security and communication systems, specialising in radio frequency (RF) and microwave components. They design, develop, and manufacture not only individual high-performance parts (super components) but also entire subsystems and complete systems for defence, space exploration, meteorology, telecommunication, and even civil communication applications. In simpler terms, their technology plays a critical role in everything from military radars and spacecraft electronics to weather stations and mobile phone networks.
The company has a market capitalisation of Rs 9,500 crore. As of December 31, 2024, the company’s order book stands at Rs 1,960 crore, which is executable in the next 12 to 36 months period. Additionally, as of December 2024, an ace investor, Atim Kabra, owns a 3.53 per cent stake. Furthermore, FIIs have increased their stake to 5.30 per cent in December 2024 compared to September 2024.
Disclaimer: The article is for informational purposes only and not investment advice.