Centum Electronics stock rises 1.2% on receipt of order from DRDO

Shares of Centum Electronics rose by 1.21 per cent on the NSE to trade at ₹1,883.65 as of 11.08 am. The company had received a work order from the Defense Research and Development Organisation (DRDO).

The contract is valued at ₹187 crore, and pertains to the realisation of space-based EW payloads. It is to be executed in sixteen months, according to the stock exchange filing.

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In February, the company declared an interim dividend of ₹3 per equity share of ₹10 each on the fully paid-up equity share capital of the company for the financial year 2023-24.