AXISCADES Shares Surge 21% to Record High After Block Deal Purchases
AXISCADES Technologies shares rose 21% over two sessions, reaching a record high of ₹2,274.10 on the National Stock Exchange. The rally followed block‑deal purchases by prominent investor Vanaja Sundar, who bought 3 lakh shares, and several marquee mutual funds on Tuesday. Intraday trading saw the price climb as much as 10%, with 87,000 shares changing hands on the BSE versus a two‑week average of 33,000 shares.
Jupiter Capital Private Limited sold 45,48,905 AXISCADES shares via block deal at ₹1,824 per share. Kotak Mutual Fund purchased 20.83 lakh shares, while Svadha India Emerging Opportunities Scheme 1 acquired 8.77 lakh shares. Abakkus Mutual Fund bought 1,87,807 lakh shares, Abakkus Diversified Alpha Fund bought 2,41,000 shares, and Abakkus Investment Managers Private Limited purchased 2,55,320 shares and later acquired 6.04 lakh shares, according to NSE bulk‑deal data.
Last week, AXISCADES informed exchanges that it had incorporated a subsidiary, Akkodis Axiscades Aerospace Engineering Private Limited, to provide engineering, design, technical, consulting and technology services to aerospace, aviation and allied industries. The incorporation was disclosed to the exchanges as part of the company’s corporate actions.
AXISCADES reported a net loss of ₹15 crore in the first quarter of the current financial year, compared with a net profit of ₹21 crore in the same period last year. Revenue from operations rose 95% to ₹183 crore in the April‑June period from ₹94 crore year‑ago. EBITDA stood at ₹8.6 crore, with the margin contracting by 410 basis points.
During intraday trading, the share price climbed as high as 10%, reflecting heightened activity. A total of 87,000 shares changed hands on the BSE, compared with a two‑week average of 33,000 shares traded daily in the past two weeks, indicating a surge in liquidity and investor interest.