This S&P BSE Smallcap stock has a market cap of Rs. 4,605 crore and rose over 10% within the first hour of markets open with volumes that are over 20x previous session’s and monthly average volumes.
The stock gained after announcing License Agreement with Indian National Space Promotion and Authorization Centre. The stock trades 6% away from its 52 week high and has a high DII holding of 15%.
Astra Microwave Products Ltd (‘Astra”) stated in a filing dated 17th October 2023 that it has executed License – Cum – Transfer of Technology (ToT) agreement between NewSpace India Limited (NSIL), Bengaluru and Indian National Space Promotion and Authorization Centre (IN-SPACe), Department of Space (DOS), Ahmedabad to utilize the know how relating to MiniSAR: X band Airborne SAR.
The TOT agreement was signed by Dr.M.V.Reddy, JMD, Astra Microwave Products Limited and Mr.Rajeev Jyoti, Technical Director, IN-SPACe and Mr.A.Arunachalam, Director, NSIL. Astra Microwave Products Ltd has a very robust portfolio of Radars and this technology will help Astra enhance this further.
Earlier last month, the company informed that Astra Rafael Comsys Private Limited, a Joint Venture company of Astra, bagged Rs.96.5 crores worth of order on 29th September, 2023 from Indian Air Force for supply of B-Kits, Testers And Trainer Specific A-Kits For Sdr Sets Of Mig-29 Upgraded Aircraft.
The order was to be executed in 12 months i.e, by Q2 FY25 and neither of the above transactions fall under related party transactions.
Astra designs, develops, manufactures, and sells sub-systems for radio frequency and microwave systems used in defense, space, meteorology, and telecommunication applications in India.
In FY23, revenue grew 10% YoY to Rs. 807 crore. Net profits during the same period grew 93% YoY to Rs. 77 crore indicating a 400 bps expansion in bottom line margin.
Written by Sandeep R
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