Shares of DCX Systems make a great start on the NSE and BSE

On Friday, November 11, shares of DCX Systems made a good stock market debut, listing for Rs 287 per share on the NSE, a premium of 38.65% over the issue price of Rs 207. Shares of DCX Systems began trading on the BSE at Rs 286.2 per share, resulting in a substantial listing gain of more than 38%.

The stock gained 38.65 percent from its offer price of Rs 207.00 when it was listed on the National Stock Exchange (NSE) for Rs 287.00 a share. On the BSE, it opened at Rs 286.25, up 38.29 percent from the issue price.

The DCX Systems stock climbed from its listing level during the first few minutes of being listed. The shares experienced a low of Rs 286.25 on the BSE and a high of Rs 299.00 on the BSE and Rs 297.00 on the NSE within the first 10 minutes of trading.

The stock was trading at Rs 290.70 on the BSE at 10:10 a.m., up 40.43 percent from the issue price, and at Rs 290.95 on the NSE, up 40.56 percent. According to BSE data, the market capitalization was Rs 2,809.82 crore.

Data from the respective stock exchanges showed that more than 1.22 crore shares of DCX Systems have been traded so far on the NSE and that 7.82 lakh shares have been traded so far on the BSE.

In the defence and aerospace industries, DCX Systems produces cable harnesses and electronic subsystems. It started operating in 2011, and since then, global original equipment manufacturers have favoured it as an Indian offset partner to carry out their manufacturing projects for aerospace and defence. It had 26 customers as of June 30, 2022, from Israel, the United States, Korea, and India.

From fiscal 2020 to fiscal 2022, DCX Systems’ revenue from operations increased at a CAGR of 56.64 percent, from Rs 449 crore to Rs 1,102 crore. By March 31, 2022, the company’s order book had grown to Rs 2,369 crore from Rs 1,941 crore as of same date in 2020.