In Short:
DCX Systems Limited’s subsidiary, Raneal Advanced Systems, received a 15-year industrial license to produce high-security defense products in India. The license allows for manufacturing key technology for missiles, avionics, and radar systems at their Bengaluru facility. This move supports India’s goal of boosting domestic defense manufacturing. DCX’s shares rose by nearly 5% following this announcement.
Exciting News from DCX Systems Limited!
In a significant move for the defence sector, DCX Systems Limited has just announced that its wholly owned subsidiary, Raneal Advanced Systems Private Limited, has been awarded a remarkable 15-year industrial licence. This licence comes courtesy of the Office of the Development Commissioner located in the Cochin Special Economic Zone, allowing the company to manufacture high-security defence products.
Shareholder Boost
As news broke, the shares of DCX Systems Limited experienced a surge, trading up by ₹16.50, which translates to a significant 4.99% increase, bringing the stock price to ₹346.90 on the NSE at 2:45 PM.
What’s Included in the Licence?
The new licence paves the way for the production, assembly, and testing of several high-tech components. This includes:
- Microwave submodules for missile subsystems
- Integration of avionics and defence electronic equipment
- Manufacturing of radar and electronic warfare systems
All these products fall under the highest security classification as specified by the Ministry of Defence Security Manual.
Facility Location and Future Prospects
The new manufacturing facility is set to be established in the Aerospace SEZ Sector in Bengaluru. Company Secretary Gurumurthy Hegde expressed excitement about the licence, noting that it empowers the subsidiary to create classified and sensitive security products.
Supporting India’s Defence Push
This latest development is in perfect harmony with India’s ongoing initiative to boost domestic defence manufacturing. With this strategic move, DCX Systems Limited is positioning itself as a key player in the country’s defence landscape.
