Shares of leading technology and engineering solutions company Axiscades Technologies surged over 10% on Monday after the company announced beginning the delivery of advanced counter drone systems to the Indian Army as a part of a ₹100-crore order.
This contract is a major milestone for Axiscades, marking the delivery of the first systems of their kind to the Indian Defence Forces, the technology and engineering solutions provider said in a stock exchange filing.
The Man Portable Counter Drone System (MPCDS), developed by
Axiscades, enhances India's defence capabilities, the company informed the bourses.
" This is the first Counter Drone System being inducted into the Indian Defence Forces in the man portable category, and the system is being deployed at multiple locations across various Commands in the Indian Army. We will continue to innovate and provide advanced security solutions to meet the evolving needs of our armed forces and make India self-reliant in the defence engineering ecosystem," said Arun Krishnamurthi, the CEO and Managing Director of AXISCADES.
The Indian Ministry of Defence and Defence Forces have outlined plans to enhance their Counter UAV capabilities through multiple tenders, including emergency procurements, with an estimated addressable opportunity of up to ₹3,000 crore within India alone over the next five years.
Axiscades remains a key player at the forefront of this initiative, with the company strengthening its Counter-Unmanned Aerial Vehicle (C-UAV) offerings with integrated sensors and neutralization options, solidifying its position to capture both domestic and global market opportunities.
Shares of Axiscades Technologies were trading 6.83% higher at ₹522.5 apiece on the BSE at 10:39 AM.
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This contract is a major milestone for Axiscades, marking the delivery of the first systems of their kind to the Indian Defence Forces, the technology and engineering solutions provider said in a stock exchange filing.
The Man Portable Counter Drone System (MPCDS), developed by
Axiscades, enhances India's defence capabilities, the company informed the bourses.
Made in India, the MPCDS is compact, portable, and operates on both battery and mains power. It can detect and jam various drones within a 5-kilometer range, covering multiple frequency spectrums, including command, control and navigation.
" This is the first Counter Drone System being inducted into the Indian Defence Forces in the man portable category, and the system is being deployed at multiple locations across various Commands in the Indian Army. We will continue to innovate and provide advanced security solutions to meet the evolving needs of our armed forces and make India self-reliant in the defence engineering ecosystem," said Arun Krishnamurthi, the CEO and Managing Director of AXISCADES.
The Indian Ministry of Defence and Defence Forces have outlined plans to enhance their Counter UAV capabilities through multiple tenders, including emergency procurements, with an estimated addressable opportunity of up to ₹3,000 crore within India alone over the next five years.
Axiscades remains a key player at the forefront of this initiative, with the company strengthening its Counter-Unmanned Aerial Vehicle (C-UAV) offerings with integrated sensors and neutralization options, solidifying its position to capture both domestic and global market opportunities.
Shares of Axiscades Technologies were trading 6.83% higher at ₹522.5 apiece on the BSE at 10:39 AM.
Catch live market updates with CNBC-TV18.com's blog
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