Home Business Stock of this aerospace & defence company has zoomed 210% in 9...

Stock of this aerospace & defence company has zoomed 210% in 9 months


Shares of Rossell India surged 16 per cent to hit an all-time high of Rs 371.80 in Thursday’s intra-day trade amid heavy volumes. The stock of & defence company surpassed its previous high of Rs 361.55, which it had touched on November 15, 2022. In the past nine months, it zoomed 210 per cent from Rs 120 per share.


At 12:12 pm; Rossell India traded 12 per cent higher at Rs 357.85, as against 0.62 per cent rise in the S&P BSE Sensex. The on the counter jumped over six-fold as around 1.38 million shares, representing 3.8 per cent of the total equity of the company, changed hands on the NSE and BSE.


Rossell India is engaged in cultivation, manufacturing, and sale of bulk tea as Rossell tea division – the company owned six tea estates all located in Assam. The company also engaged in engineering and manufacturing in and defence services such as Rossell Techsys division.


On November 14, 2022, the board of Rossell India granted in- principle approval to the proposal for segregation by way of demerger of the company and vest Rossell Techsys into a separate company pursuant to a scheme of arrangement.


Meanwhile, the three major Original Equipment Manufacturers (OEM’s) contribute close to 97 per cent of the and Defence division’s revenue. Thus, the division’s fortunes are closely linked with the performance of these companies.


“This aerospace and defence division continued to focus on export-oriented business opportunities, in the aerospace and defecse domain, with global Original Equipment Manufacturers (OEMs), via global RFPs. The division added honeywell to its list of customers from the US and also its first customer from Israel,” Rossell India said.


The division has recently been declared the winner to provide EWIS support to the T7-A platform, which is expected to be in life for the next 30 years. It is the first digitally designed and manufactured aircraft by Boeing, which would start off from a clean sheet.


“The company had participated in early stages by a no-cost, no-commitment association to build 6 ship sets for the engineering and manufacturing development (EMD) and flight test (FT) platforms for this aircraft. Post this performance, the division had submitted a bid to supply Electrical Wiring and Interconnect Systems (EWIS) parts for this platform for the next 10 years. The Division has been awarded this contract, via a total strategic agreement value in excess of $100 million,” the company said.


The division has also submitted large size bids to various OEMs. The bids are in excess of $750 million for various boeing commercial aircrafts, Israel erospace Industries and Lockheed Martin Platforms. These bids are for EWIS and Electrical Panel Assemblies (EPA) for deliveries over 2049-2029. The decision is expected in the next two quarters.


“The total confirms purchase contracts are in excess of $50 million, and total confirmed strategic agreements in excess of $200 million. These contracts are to be executed over the next 5 years,” the company added.



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