Astra Microwave Products

Terror strikes spruce up defence stocks Source Economic times

Posted by : dipu_gm
Price when posted : BSE: Rs 51.85 ( 18.65 % ), NSE: Rs. 51.50 ( 17.18 % )

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Terror strikes spruce up interest in defence stocks

Brokers are prodding investors to buy defence-related stocks on expectations that the government will increase defence spending, thanks to the recent terror strikes in Mumbai.

Astra Microwave, Zen Technologies and Bharat Electronics (BEL) are likely to benefit greatly if the government decides to increase its defence budget, brokers opine.

Moreover, the mandatory clause to include Indian firms in projects (for Indian defence forces) that are handed over to foreign defence companies assure a steady order book for Indian companies.

BEL, a public sector utility company, is the largest-listed defence equipment company in India.

“We are going to see increasing tie-ups between BEL and the US defence market, as well as the Israeli defence market,” an analyst opined.

Zen Technologies is a company that produces simulators to train various police, military and para-military forces; Astra Microwave makes sub-systems for India’s missile programme.

BEL ended 7% higher at Rs 617; Zen Technologies closed nearly 10% higher at Rs 98 while Astra Microwave ended 3% higher at Rs 44 on BSE. ...

NSE Announcements on Astra Microwave

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Price when posted : [Astra Microwave - BSE:Rs. 42.30 NSE:Rs. 42.35 when posted]

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Astra Microwave Products Limited has informed the Exchange regarding the press release dated December 01, 2008, titled "Astra Microwave wins INR 570 mn order from Israels ELTA Systems". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...

BSE Announcements on Astra Microwave

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Price when posted : [Astra Microwave - BSE:Rs. 44.80 NSE:Rs. 44.70 when posted]

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Astra Microwave Products Ltd has informed BSE that the Company has received an order for Rs 57.31 crores for Production, Testing and Supply of sub systems for Indian Defence program from M/s. ELTA Systems Ltd, Israel which has to be completed in the next 18 months period. In this regard the Company has issued a Press Release titled "Astra Microwave wins INR 570 mn order from Israels ELTA Systems"...