Axiscades Hits 5% Upper Circuit on HAL LCA Mk1A Order

Shares of Axiscades Technologies Ltd surged 5% to touch a day’s high of Rs 1,179.60 on 9th February. This happened after the company said its subsidiary, Mistral Solutions, had secured an order worth Rs 80 crore for the LCA Mk1A programme of Hindustan Aeronautics Limited (HAL).

Mistral Solutions specialises in high-performance embedded systems and defence electronics.

In its filing, the company said the order highlights the group’s commitment to indigenising advanced avionics systems. Under the contract, Mistral will supply electronic hardware for key subsystems. These include the Mission Computer and Smart Multifunction Display. This will strengthen its long-standing partnership with DRDO and HAL.

All systems will be manufactured at Axiscades’ newly set up Devanahalli Atmanirbhar Complex (DAL) facility. This facility is located at the Bengaluru Aerospace Park, near Kempegowda International Airport.

Commenting on the win, Manikandan, CEO of Mistral Solutions, said the order reinforces the group’s focus on defence indigenisation and the ‘Make in India’ initiative. Additionally, it positions the group for upcoming defence programmes.

At 1:30 PM, shares of Axiscades Technologies were locked in a 5% upper circuit at Rs 1,179.60 on the NSE.

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