Data Patterns (India) rose 0.89% to Rs. 790.75 after the company announced that it has received a development order of Rs. 27 crore from Defence Research and Development Organisation for wide band RF front end units for electronic warfare receivers.
Data Patterns said that the new program allows wide band EW receivers to be configured for naval, land and aerial platforms. The wide band RF front ends allow faster scanning of enemy emitters to enable better electronic intelligence with enhanced detection and avoidance. The specifications not only allow faster scan rate but also better dynamic range providing better detection, the company said in a press release.
Data Patterns further said that the contract enhances its leadership in home grown EW market with EW products comparable to international specifications.
Data Patterns (India) is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry.
The stock entered bourses on 24 December 2021. The scrip was listed at Rs. 864, representing a premium of 47.69% to the issue price of Rs. 585 per share. The initial public offer (IPO) of Data Patterns (India) received bids for 84,89,85,725 shares as against 70,97,285 shares on offer. The issue was subscribed 119.62 times.
The company reported a net profit of Rs. 23.21 crore and sales of Rs. 96.45 crore for the six months ended September 2021.
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