ASTRAMICRO

** Defence stocks .NIFTYINDDEFENCE extend gains by 0.7% after India unveiled a new framework to streamline, simplify and rationalise procurement processes for armed forces

** Defence Minister Rajnath Singh on Sunday approved the Defence Procurement Manual, outlining key rules and procedures for all revenue procurements covering an estimated 1 trillion rupees for the current financial year

** Revenue procurement pertains to day-to-day spending for operational needs

** A 0.1% delay penalty will apply after prototype development, with a cap of 5%, rising to 10% only for major delays, encouraging timely but sincere efforts. No levies in development phase

** 13 out of the 18 constituents on the subindex were trading in the green, lead by Paras Defence PRAF.NS which was up 4.5%

** Cochin Shipyard COCH.NS, Astra Micro ASTM.NS and Cyient DLM CYIT.NS up between 2% and 2.6%

** YTD, defence stocks up 24%, outperforming Nifty 50's .NSEI 6% climb

(Reporting by Urvi Dugar)

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Aug 13 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• JUNE-QUARTER CONSOL NET PROFIT 162.7 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2 BILLION RUPEES

Source text: ID:nBSEbvHKzS

Further company coverage: ASTM.NS

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Adds details in paragraphs 2-3, background in paragraphs 4-7

Aug 12 (Reuters) - India's space regulator has picked a consortium led by Google-backed startup PixxelSpace to build a commercial home-grown constellation of earth observation satellites, with an investment of more than 12 billion rupees (nearly $137 million) over the next five years, it said on Tuesday.

The consortium, comprising local space tech firms Piersight Space, Satsure Analytics India and Dhruva Space, will design, build, and operate the satellites, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) said.

The PixxelSpace-led consortium won the project, outbidding Indian defence equipment makers Astra Microwave ASTM.NS and Bharat Electronics BAJE.NS.

The Indian government wants to reduce its dependence on foreign systems, including the widely used U.S. Global Positioning System (GPS), and says its regional navigation satellite system, called NavIC (Navigation with Indian Constellation), provides more accurate domestic navigation and that its use would benefit the economy.

This is in line with Prime Minister Narendra Modi's drive for self-reliance, which has also expanded the use of NavIC.

India has also been pushing tech giants to make smartphones compatible with its home-grown navigation system within months, worrying the likes of Samsung, Xiaomi and Apple.

($1 = 87.6790 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

(([email protected]; 8800437922;))

** Shares of Astra Microwave Products ASTM.NS rise 3.1% to 979 rupees

** Electronic equipment maker receives 1.35 bln rupees ($15.38 mln) order from Defence Research and Development Organisation (DRDO) for ground-based radar system upgrade

** ASTM rated "buy" by four analysts on average; median target price is 1,204 rupees – data compiled by LSEG

** Stock up 27% YTD

($1 = 87.7650 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

Aug 5 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS LTD - RECEIVES 1.35 BILLION RUPEES ORDER

Source text: ID:nBSE8vNsPk

Further company coverage: ASTM.NS

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May 20 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS LTD - TO ISSUE CONVERTIBLE WARRANTS WORTH 1.74 BILLION RUPEES

Source text: ID:nBSE1rKcMS

Further company coverage: ASTM.NS

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** Shares of Hindustan Aeronautics HIAE.NS rise as much as 2% to 4,209 rupees

** ICICI Securities says GE Aerospace delivering first of 99 engines to HIAE for Tejas Light Combat aircraft "allays concerns on the execution front"

** Upgrades stock to "Buy" from "Add", raises TP to 5,000 rupees from 4,065 rupees

** Brokerage expects revenue growth of 25–28% through to FY27, based on the order book estimated at more than 1.3 trln rupees ($15.2 bln)

** Brokerage sees execution of Tejas Mk-1A to benefit other companies involved in the supply chain such as Bharat Electronics BAJE.NS, Astra Microwave ASTM.NS and Dynamatic Technologies DYNM.NS

** HIAE stock up ~35% so far this month, set to snap three straight monthly fall

($1 = 85.7890 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Dec 13 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• JV CO BAGGED 2.56 BILLION RUPEES WORTH OF ORDER

Source text: ID:nBSE3ZXgbY

Further company coverage: ASTM.NS

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** Shares of Astra Microwave Products ASTM.NS fall 3.7% to 753.55 rupees

** Electronic equipment maker reports a 15% drop in Q2 consol net profit, hurt by higher expenses

** Rev from ops rose about 21%

** 4 analysts' avg rating is "buy", same as for Bharat Electronics BAJE.NS; median PT 935 rupees - LSEG data

** Stock up ~25% so far this year vs a ~54% jump in BAJE

($1 = 84.4025 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

Nov 12 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS SEPT-QUARTER CONSOL NET PROFIT 253.9 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.3 BILLION RUPEES

Source text: [ID:]

Further company coverage: ASTM.NS

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Nov 6 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• SIGNED JOINT VENTURE AGREEMENT WITH MANJEERA DIGITAL SYSTEMS

• AGREEMENT FOR MANUFACTURING OF NAVIC CHIP AND GNSS PRODUCTS

Source text: ID:nNSE9ncp92

Further company coverage: ASTM.NS

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** Shares of electronic equipment maker Astra Microwave Products ASTM.NS rise 4.3% to 909 rupees; set for third straight session of gains

** Co signs MoU with explosive bolts and cable cutter maker Premier Explosives PRMR.NS to develop and sell multiple products jointly

** PRMR up 3.8% at 584 rupees, set for best day in two weeks

** ASTM up ~49% so far this year; set for sixth straight year of gains

** PRMR has jumped ~83% YTD; on track for fifth consecutive yearly gains

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

** Shares of Astra Microwave Products ASTM.NS rise 2.2% to 837.5 rupees

** Electronic components maker posts a June-qtr consol net profit of 72 million rupees ($857,990.63) compared to a loss of 67.4 million rupees a year earlier

** Busiest session for the stock in over a month; more than 747,000 shares change hands

** Stock up ~39% YTD, had jumped 111% in 2023 for fifth straight year of gains

($1 = 83.9170 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

Aug 13 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS JUNE-QUARTER CONSOL NET PROFIT 72 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 1.55 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: ASTM.NS

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** Shares of Astra Microwave Products ASTM.NS up as much as 14.3% to a record high of 914.65 rupees

** The electronic components maker reported an over fourfold jump in its March-quarter consolidated net profit to 544 mln rupees ($6.6 mln)

** Co's revenue from operations u 37% Y/Y

** Co also recommended a dividend of 2 rupees per share

** More than 5.8 mln shares change hands, 12.3x the 30-day average

** Stock sees its busiest day yet since Oct 2023, and on track for a second straight session of gains, if current trend holds

** Including session's gains, ASTM stock has climbed 46% YTD

($1 = 83.0720 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

May 24 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS MARCH-QUARTER CONSOL NET PROFIT 544 MILLION RUPEES VERSUS PROFIT 135.2 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.54 BILLION RUPEES VERSUS 2.58 BILLION RUPEES

• ASTRA MICROWAVE PRODUCTS LTD - DIVIDEND 2 RUPEES PER SHARE

Source text for Eikon: ID:nBSE1yjdZp

Further company coverage: ASTM.NS

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** Shares of Astra Microwave Products Ltd ASTM.NS rise as much as 10.1% to 699 rupees

** Co says it entered into collaboration agreement with Teledyne e2v HiRel Electronics to provide semiconductor services to support aerospace, defense, and high reliability electronics markets

** Stock on track to snap 9 days of losses

** Stock trading above its 200-day simple moving avg since April 2023

** More than 923,000 shares traded as of 2:32 p.m. IST, 2.3x their 30-day moving avg

** ASTM last up 8.7%, adding to YTD gains of ~14.4%

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

April 1 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS LTD - BAGGED ORDERS WORTH 560 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS LTD - GETS ORDER FROM HINDUSTAN AERONAUTICS LIMITED

Source text for Eikon: ID:nBSE6PkFVk

Further company coverage: ASTM.NS

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March 28 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• GETS ORDER WORTH 3.86 BILLION RUPEES

Further company coverage: ASTM.NS

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** ICICI Securities says India's equity valuations are getting more uncomfortable as market price rise higher than earnings expansions, especially in small-, mid-caps

** Says this could lead to upward earnings revisions, reducing margin of safety in such stocks

** Sees March 2025 target for Nifty 50 at 24,800, 10% upside from current levels

** Lists Larsen and Toubro LART.NS, Bharat Heavy Electricals BHEL.NS, Jindal Steel And Power JNSP.NS, Astra Microwave ASTM.NS, Oil and Natural Gas Corp ONGC.NS as its top picks

** Nifty 50 index up 3% YTD after rising over 20% last year

** Nifty small-cap .NIFSMCP100 down 1.5%, mid-caps .NIFMDCP100 down 0.1%

** LART, ONGC down 1%, BHEL declines 0.5%, JNSP dips 0.9%, ASTM falls 1.8%

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Feb 19 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• INCORPORATES UNIT ASTRA SPACE TECHNOLOGIES

Source text for Eikon: ID:nNSE3pbj8

Further company coverage: ASTM.NS

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Feb 8 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• ASTRA MICROWAVE PRODUCTS LTD DEC-QUARTER CONSOL NET PROFIT 433.8 MILLION RUPEES VERSUS 276.8 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.31 BILLION RUPEES VERSUS 2.20 BILLION RUPEES

Source text for Eikon: ID:nBSE37S3qc

Further company coverage: ASTM.NS

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** Shares of Astra Microwave Products ASTM.NS up as much as 14.74% to a record high of 513.8 rupees

** Stock hits sharpest intraday pct gain since July 26, 2022

** Electronic components maker executes transfer of technology agreement between NewSpace India and Dept. of Space for utilisation of operations of radio frequency device

** About 7 mln shares change hands as of 2:28 p.m. IST, 8.9x the 30-day average

** Stock last up 7.82%, extending YTD gains to 69.4%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of electronic components maker Astra Microwave Products ASTM.NS surge as much as 7.9% to hit a record high of 398.40 rupees

** Co says got orders worth 1.58 billion rupees ($19.12 million) for supply of satellite sub-systems, airborne radar, sub-systems of radar and electronic warfare projects

** ASTM says order from Defence Research and Development Organisation, Indian Space Research Organisation and defence's public sector undertakings

** Stock most active since April 26 as more than 3.1 mln shares trade by 10:28 a.m. IST, 4.9 times their 30-day moving avg

** Including Friday's gains, stock up 37.7% YTD

($1 = 82.6490 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

Aug 24 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• GOT ORDERS WORTH 1.58 BILLION RUPEES

Source text for Eikon: ID:nBSE6PqQH7

Further company coverage: ASTM.NS

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Aug 14 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• INDIA'S ASTRA MICROWAVE PRODUCTS LTD JUNE-QUARTER CONSOL NET LOSS 67.4 MILLION RUPEES VERSUS PROFIT 81 MILLION RUPEES

• ASTRA MICROWAVE PRODUCTS LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 1.34 BILLION RUPEES VERSUS 1.62 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: ASTM.NS

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June 7 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• CLARIFICATION ON NEWS CIRCULATING RELATING TO DEVELOPMENT OF ACTIVE PROTECTION SYSTEMS IN COLLABORATION WITH DRDO

• CLARIFY THAT NO DECLARATION WAS GIVEN BY CO TO ANY PERSON/COMPANY REGARDING THE SAME

• MANAGEMENT TRYING TO REACH OUT TO PUBLISHER OF POST WITH A REQUEST THAT THEY RETRACT SAID REPORT

Further company coverage: ASTM.NS

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May 26 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• MARCH-QUARTER CONSOL NET PROFIT 135.2 MILLION RUPEES VERSUS 109 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.58 BILLION RUPEES VERSUS 2.39 BILLION RUPEES

• DIVIDEND 1.60 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: ASTM.NS

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** Shares of Astra Microwave Products Ltd ASTM.NS rise as much as 2.13% to a six-month high of 346.90 rupees

** Electronic component maker's joint venture company Astra Rafael Comsys Pvt Ltd bags order worth 1.58 bln rupees from a defence public sector undertaking (PSU) nFWN37J16F

** Order pertains to supply of software defined radio- ASTM

** Trading volume is 644,472 shares as of 1:47 p.m. IST, slightly more than the 30-day avg - Refinitiv data

($1 = 81.7800 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

May 22 (Reuters) - Astra Microwave Products Ltd ASTM.NS:

• JOINT VENTURE COMPANY BAGGED 1.58 BILLION RUPEES WORTH OF ORDER

Source text for Eikon: ID:nBSE1dvsyG

Further company coverage: ASTM.NS

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