Multibagger small-cap stock Axiscades hits 5% upper circuit on THIS update. Check details

Stock Market Today: Multibagger small-cap stock Axiscades was locked in the 5% upper circuit in the morning trade on Tuesday after the company announced having signed an agreement to boost production of cutting-edge systems in India.

Axiscades Technologies Business Updates

Axiscades Technologies, on Tuesday, June 17, announced that it has signed an agreement with a Europe-based global leader in defence, aerospace, and strategic systems. The agreement is aimed at boosting the production of cutting-edge systems in India.

In a media release on the exchanges, titled “Indra signs agreement with Axiscades to boost production of cutting-edge systems in India,” Axiscades Technologies intimated investors about the development.

Indra is a European-based global leader in defence, aerospace, and strategic systems, and Axiscades is a prominent technology solutions provider in defence, aerospace, and strategic electronics. Axiscades thereby said that it is proud to announce a strategic alliance.

As per the release, the small-cap company indicated that Indra is eager to purchase defence-related goods and services from Axiscades, which will be provided by its comprehensive supply chain, design, development, and production facility.

“The agreement aims to manufacture in India several Indra solutions, such as antennas for its Tactical Air Navigation Systems (TACAN), Distance Measuring Equipment (DME) that provides in-flight information to aircraft, and countermeasure systems, as part of a broader system designed by Indra to protect aircraft in flight from potential missile attacks using guided systems, such as the well-known MANPADS,” as per Axiscades media release.

Axiscades share price movement

Multibagger small-cap stock Axiscades' share price opened at ₹1,280 levels on the BSE on Tuesday. At the time of opening, the multibagger small-cap stock was up almost 5% compared to the previous day's closing price of ₹1221.65, which is also its upper price band.

The Axiscades share price has risen almost 107% in the last one year and 3401.64% in the last five years, delivering multibagger returns to the investors.

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