Sigma Advanced Systems shares rally 5% on Rs 155 crore anti-drone orders; stock up 105% in 3 months
Sigma Advanced Systems shares gained nearly 5% after the defence technology company announced orders worth around Rs 155 crore for its Indrajaal Ranger anti-drone system. The stock has surged 105% in three months, while its order book stands at approximately Rs 8,000 crore, supporting strong revenue visibility.
Sigma Advanced Systems' shares experienced a significant rally of nearly 5% on Tuesday, reaching Rs 658.45 following the announcement of orders worth around Rs 155 crore for its Indrajaal Ranger anti-drone system. This comes after the company has already delivered a staggering 105% return in just three months, bringing the defence stock to the forefront of investors' attention.
The Indrajaal Ranger was awarded a Rs 145 crore contract for deployment in India's border security environment, with an additional Rs 10 crore order from urban police authorities to protect VVIPs and ensure urban security. This order win signifies the emergence of a new homeland security category, the Anti-Drone Patrol Vehicle, which is India's only ARDTC-approved mobile Counter-UAS platform designed for high-speed deployment at strategic locations.
Sunil Kalidindi, CEO of Sigma Advanced Systems, highlighted the significance of the programme, emphasizing the strong capabilities of India's defence manufacturing ecosystem to develop and deliver indigenous technologies at operational scale. The company's order book currently stands at approximately Rs 8,000 crore, providing a strong revenue outlook.
While Sigma Advanced Systems shares are below their 52-week peak of Rs 725.95, they remain below the 52-week high and have continued to attract attention due to recent strong performance and defense-related business developments.
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