Sigma Advanced Systems Secures INR1 Billion Defense Orders

MT Newswires Live02-24 13:58

Sigma Advanced Systems (NSE:SIGMAADV, BOM:532408) has secured new orders worth about 1 billion Indian rupees from the Ministry of Defense and related defense public sector undertakings, according to an Indian exchange filing on Monday.

Shares of the company fell nearly 2% in Tuesday's trade.

The contracts relate to missile systems, naval platforms and airborne applications, the filing said.

The scope includes supply of built-to-spec systems, control electronics, precision guidance and flight control systems for surface-to-air missile, anti-tank missile and anti-radiation missile programs, as well as avionics and underwater platforms, according to the filing.

The company said it will deliver the orders to entities including Bharat Dynamics, Hindustan Aeronautics and establishments of the Defense Research and Development Organization, the filing said.

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