Astra Microwave shares climb 14% in afternoon session; here's why

Astra Microwave shares climb 14% in afternoon session; here’s why

Shares of Astra Microwave Ltd gained nearly 14% today after the aerospace and defence firm said it won orders worth Rs 385.58 crore for supply of MPR sub-systems from Bharat Electronics Limited (BEL), Ghaziabad. The expected time period for the completion of orders is 36 months.

Astra Microwave stock gained 13.90% to Rs 528.95 against the previous close of Rs 544.45 on BSE. Market cap of the firm rose to Rs 5,801 crore.

Total 0.72 lakh shares of the firm changed hands amounting to a turnover of Rs 4.18 crore on BSE. The defence stock has rallied 182.21 per cent in a year and gained 1.31 per cent in 2024.

The stock hit a 52 week high of Rs 690 on February 9, 2024 and fell to a 52 week low of Rs 217.85 on March 29, 2023. In the last three years, the stock has delivered 362% returns. In comparison, Sensex has risen 51.03% in three years.

In terms of technicals, the relative strength index (RSI) of Astra Microwave stands at 38.8, signaling it’s trading neither in the overbought zone nor in the oversold zone. Astra Microwave stock has a one-year beta of 1, indicating average volatility during the period. Astra Microwave shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Astra Microwave Products Limited is engaged in the business of designing, developing, and manufacturing sub-systems for radio frequency and microwave systems used in defense, space, meteorology and telecommunication.

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