Centum Electronics shines on signing MoU with Indra Sistemas
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Centum Electronics is currently trading at Rs. 557.95, up by 7.50 points or 1.36% from its previous closing of Rs. 550.45 on the BSE.
The scrip opened at Rs. 565.00 and has touched a high and low of Rs. 566.00 and Rs. 551.00 respectively. So far 573 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 659.20 on 24-Dec-2021 and a 52 week low of Rs. 390.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 614.00 and Rs. 522.00 respectively. The current market cap of the company is Rs. 709.24 crore.
The promoters holding in the company stood at 58.80%, while Institutions and Non-Institutions held 6.87% and 34.33% respectively.
Centum Electronics has signed memorandum of understanding (MoU) with Indra Sistemas, S.A Spain, to exclusively collaborate in high-end futuristic Radar systems and technologies for the Government of India. The MoU envisages manufacturing and commissioning of the radar for space applications. Long-range radar is intended to detect, track and analyse objects and debris in space at a distance of thousands of kilometres.
This MoU will enhance Centum’s indigenous Radar technology capabilities in addition to generating additional revenues in the coming years. Centum has a strong R&D/ indigenization policy for developing, qualifying, and delivering Military grade electronic systems and subsystems for Radars, EW systems, Missiles, and Aerospace/Space platforms.
Centum Electronics is basically engaged in designing and manufacturing of advanced electronics systems, subsystems, and components.
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