Explained — Why DCX Systems shares jumped 11% today

Shares of DCX Systems Ltd. surged over 11% on Friday, March 6, after the company announced that it had won a ₹68.05 crore purchase order from Hindustan Aeronautics Limited (HAL) on Thursday.

The order involves the manufacture and supply of custom-made antennas and power supplies for airborne applications, the company said in an exchange filing in the after-market hours.

Following the order win from the leading Indian aerospace and defence company, the share of the company surged over 11.53% in early trading hours, hitting an intraday high of ₹198.25 on Friday.

This marks the second consecutive day of gains for the stock after it closed 4.14% higher in Thursday's session.

However, it is still nearly 46% below its 52-week high of ₹363.75. It has lost 26% in the last six months, while the stock is down 21% in the last 12 months.

As of 9.55 am, the stock was trading slightly below its intraday highs at ₹197.78, but 11.27% higher than Thursday's closing price.