DCX Systems Ltd signs JV agreement with ELTA Systems Ltd

DCX Systems Limited has executed today, i.e., August 30, 2023, a Joint Venture Agreement with ELTA Systems Limited. ELTA and DCX concluded to enter into a joint venture by way of incorporating a jointly owned, private limited liability Israeli company ("JVC"), for the purposes of developing, producing and distributing, globally, obstacle detection solutions based on radar and optics technology for railway industry (the "Business") all in accordance with and subject to the terms and conditions as set out in this Agreement.

ELTA is a Subsidiary of Israel Aerospace Industries (IAI) which is an Israel government owned company, a global leader in Defense, Aerospace and commercial markets. With an extensive range of comprehensive solutions, ELTA is a global leader in Defence Electronics in the fields of C5ISR (ISTAR), Early Warning & Control (AEW&C), Electronic Surveillance (SIGINT/ELINT/COMINT) and countermeasures (C-UAS), Fire Control, Self-Protection, and Self-Defense, with specific specialization in Radar, AI, Cyber, and robotics for the applications including aerospace and space, land, naval, and homeland security. ELTA is also one of the Prominent supplier of Defence Equipment to the Indian Armed Forces for decades and have a credible track record.

ELTA has developed long range train borne obstacle detection system based on innovative technology using radar system combined with powerful Multi-spectral E/O Sensors and Deep learning algorithm, intended to bring more safety and efficiency in train traffic management and enhances profitability. Also, it is intended to be an enabler for train digitization, automation and autonomous trains.

ELTA, due to long term association with DCX, desires to partner with DCX for further developing, producing, manufacturing, marketing, and distributing the said obstacle detection solutions to the global market.

Shares of DCX Systems Limited was last trading in BSE at Rs. 328.20 as compared to the previous close of Rs. 336.20. The total number of shares traded during the day was 84896 in over 2179 trades.

The stock hit an intraday high of Rs. 347.90 and intraday low of 325.25. The net turnover during the day was Rs. 28476369.00.

Source : Equity Bulls

Keywords

DCXSystems INE0KL801015 Aerospace Defense JVAgreement ELTASystems