Data Patterns' stock continues its bull run

18 Oct 2022 , 11:19 AM

Shares of Data Patterns (India) rose 9% on the BSE during Tuesday’s intra-day trade, supported by a positive outlook for the company’s future. The stock then reached a new high of Rs1,400. On December 24, 2021, the company made its stock market debut.

The stock has soared 95% in the last three months, whereas the S&P BSE Sensex has only increased by 8%. The company’s stock price has increased by 139% from its issue price of Rs585 per share on the BSE as a result of the recent rapid surge. Data Patterns is a vertically integrated provider of defense and aerospace electronics solutions for the domestic defense products market.

Because of the Atmanirbhar Bharat initiatives and changes made to the defense procurement process to allow for more “Make in India” defense equipment, Data Patterns is now concentrating on developing complete systems with in-house design to address the enormous market opportunities in the Indian Defense and Aerospace segment.

According to the most recent information available from the government about defense exports, India sold defense equipment made domestically worth Rs 8,000 crore in the first half of FY23 (April-September 2022).

The government estimated that an additional Rs 8,000—9,000 crore in exports will be added in the second half of FY23 (October 2022—March 2023) to bring the total to Rs 16,000—17,000 crore in FY23 (against Rs 12,815 crore in FY22 and Rs 8,435 crore in FY21). Rajnath Singh, the defense minister, was quoted by PTI as saying that the government has maintained its long-term goal of Rs 35,000 crore in defense exports by FY25.

A five-day event called the Defense Expo (DefExpo) 2022 has begun in Gandhinagar, Gujarat (October 18-22). Defense Research and Development Organization (DRDO) and industry and academics have strong ties, which will be highlighted at DefExpo 22. In total, 430 goods from the DRDO, including strategic and tactical weapon systems, defense tools, and technology, will be on show, according to the MoD.

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