Centum Electronics, Indra Sistemas collaborate to manufacture space radar systems; stock spurts ~4%

21 Oct 2022 , 11:09 AM

Centum Electronics Limited in India and Indra Sistemas S.A in Spain have signed a Memorandum of Understanding (MOU) to jointly work on high-end futuristic radar systems and technologies for the Government of India. The agreement calls for the production and testing of radar for space applications.

Long-range radar detects, monitors, and analyses objects and debris in space from thousands of kilometres away.

Nikhil Mallavarapu, Executive Director, Centum Electronics Limited, and Jaime Manuel Temes Giménez, International Director for Defence, Indra Sistemas S.A, signed the MoU in Gandhinagar on October 20, 2022, at the “Bandhan” event at Def Expo 2022.

This agreement will bolster Centum’s indigenous Radar technology capabilities while also generating more income in the coming years.

Centum has a robust R&D/indigenization policy in place for developing, certifying, and delivering Military grade electronic systems and subsystems for Radars, EW systems, Missiles, and Aerospace/Space platforms.

At around 11.12 AM, Centum Electronics was trading at Rs573.50 up by 4.19% from its previous closing of Rs550.45 on the BSE. The scrip opened at Rs565 and touched intraday high and low of Rs584.65 and Rs551 respectively.

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