DCX Systems move higher on executing Joint Venture Agreement with ELTA Systems
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DCX Systems is currently trading at Rs. 337.90, up by 9.70 points or 2.96% from its previous closing of Rs. 328.20 on the BSE.
The scrip opened at Rs. 345.00 and has touched a high and low of Rs. 348.00 and Rs. 336.25 respectively. So far 50227 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 348.00 on 31-Aug-2023 and a 52 week low of Rs. 138.90 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 348.00 and Rs. 283.80 respectively. The current market cap of the company is Rs. 3264.91 crore.
The promoters holding in the company stood at 71.73%, while Institutions and Non-Institutions held 9.98% and 18.29% respectively.
DCX Systems has executed a Joint Venture Agreement with ELTA Systems. ELTA and DCX concluded to enter into a joint venture by way of incorporating a jointly owned, private limited liability Israeli company (JVC), for the purposes of developing, producing and distributing, globally, obstacle detection solutions based on radar and optics technology for railway industry (the Business) all in accordance with and subject to the terms and conditions as set out in this Agreement.
DCX shall hold 100% share capital initially in the JVC and at later stage DCX shall hold ordinary A shares constituting 50.1% of the JVC share capital; ELTA shall receive option to receive such an amount of ordinary shares constituting 49.9% of the JVC share capital, which shall have exercise price at par value NIS 0.01 each.
DCX Systems is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in kitting.
