Indra signs agreement with Axiscades to boost production of cutting-edge systems in India

Indra and the Indian technology company AXISCADES have signed an agreement to collaborate on the production of solutions for the aerospace and defense markets.

Indra's CEO, José Vicente de los Mozos, and AXISCADES' Chairman, Dr. Sampath Ravinarayanan, signed the Memorandum of Understanding at the Aerospace Show taking place this week in Le Bourget, in the presence of Indra Chairman, Angel Escribano, and AXISCADES CEO & MD, Alfonso Martínez.

The agreement aims to manufacture in India several Indra solutions, such as Distance Measuring Equipment (DME) that provides in-flight information to aircraft, and countermeasure systems, as part of a broader system designed by Indra to protect aircraft in flight from potential missile attacks using guided systems, such as the well-known MANPADS.

The collaboration between the two companies strengthens Indra's position in the global aerospace systems market and its network of alliances with companies worldwide. At the same time, Indra contributes to enhancing the capabilities of Indian companies, in a country where it has maintained a strong presence for years as a provider of cutting-edge systems and technologies across various sectors. Notable achievements include systems delivered to the country's Armed Forces and projects for the modernization of civil air traffic management.

Indra and AXISCADES are evaluating collaborations in MPA Airborne Solutions and exploring a dedicated partnership for DRDO CABS MRMR and MMMA programs.

Shares of AXISCADES Technologies Limited was last trading in BSE at Rs. 1405.35 as compared to the previous close of Rs. 1412.95. The total number of shares traded during the day was 35766 in over 2115 trades.

The stock hit an intraday high of Rs. 1479.00 and intraday low of 1371.50. The net turnover during the day was Rs. 51154261.00.

Source : Equity Bulls

Keywords

AXISCADESTechnologies INE555B01013 Agreement Indra