Multibagger defence stock hits 5% upper circuit on bagging $1 million contract. Do you own?

Multibagger defence stock Axiscades Technologies surged to the 5% upper circuit on Friday, January 23, following an order win worth $1 million by its subsidiary, Mistral Solutions Private Limited.

Axiscade Technologies' share price rallied to ₹1156.10 on the BSE — its 5% upper price band. Around 9.55 am, the small-cap stock was trading 4.73% higher at ₹1153.

Axiscade Technologies order win details

The company, in an exchange filing, earlier today announced that Mistral Solutions Private Limited has received a contract for the testing of audio products of its Hyperscaler customer in the newly established Acoustic Lab in the Aeroland facility. The new order win is in the ESAI division.

This pilot order is for multiyear, valued at about $1 million and is expected to generate more opportunities in innovative audio product development, Axiscades Technologies said in a press release.

“These small form factor audio products stand out through advanced spatial audio processing, custom silicon for superior noise cancellation, and seamless integration with AI for proactive, ambient AI experiences,” it added.

Manikandan, CEO, Mistral Solutions, said, “This is the result of our efforts to expand beyond our traditional base of TI and Qualcomm ecosystem and add the global majors to our customer list by setting up exclusive facilities for them and forge long term relationship."

Earlier this month, on January 19, Mistral Solutions bagged another landmark order for ₹100 crore from the prestigious LLTR Ashwini programme – India’s indigenous Low-Level Transportable Radar system developed by DRDO and BEL.

Axiscades Technologies share price trend

Despite these order wins and the 5% rise seen in today's trading session, multibagger defence stock Axiscades Technologies has slumped 13% on a month-to-date basis amid a sharp fall in the Indian stock market.

Yet despite the near-term hiccups, Axiscades Technologies shares have delivered multibagger returns in the long term. According to BSE data, the small-cap defence stock has rallied 255% in three years and a whopping 2102% in five years.

Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.