This small-cap stock jumps more than 6% on Tuesday after entering into an agreement with the Indian National Space Promotion and Authorization Center (IN-SPACe). This stock has given 25% returns in six months and 62% returns in one year. It is trading 19% away from the 52-week high.
Data Patterns (India) Ltd
With a market capitalisation of Rs. 11,705 Cr, making it a small-cap company. On Tuesday the stock rose more than 6%. Currently, the company shares are trading 4.4% up at Rs. 2,083.25 on BSE.
According to the BSE filing, Data Patterns (India) Ltd a vertically integrated Defence and Aerospace electronics solution provider, has announced a Licensing and transfer of technology (ToT) agreement with IN-SPACe, a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DoS). This agreement will provide Data Patterns with miniature SAR Radar capability.
In addition, the technology has been developed at the Space Application Center (SAC), ISRO and is the forerunner of ISRO’s upcoming high-resolution SAR satellite, the NISAR and made available for ToT to the industry by IN-SPACe.
The company’s total revenue grew by 43% from Rs. 70.85 Cr in Q1 FY23 to Rs. 101.30 Cr in Q1 FY24 and for the same period, net profit rose by 81% from Rs. 14.24 Cr to Rs. 25.83 Cr.
As per the latest shareholding data, Promoters hold 42.41%, FIIs hold 5.32%, DIIs hold 11.11% and the public hold 41.16% stake in the company.
Data Patterns (India) Ltd is a provider of defence and aerospace electronics solutions. The company provides products across the complete range of defence and aerospace platforms, including space, air, land, and sea.
Written by Sheshadri N
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