Axiscades

India's current account deficit (CAD) rose sharply to USD 14.3 billion -- or 2.4 per cent of GDP -- at the end of first quarter of 2017-18, mainly on account of an increased trade gap. CAD stood at USD 0.4 billion, or 0.1 per cent of GDP, in April-June of 2016-17. The figure compares with USD 3.4 billion (0.6 per cent) for the quarter ended March 2017. "The widening of CAD on a year-on-year (y-o-y) basis was primarily on account of a higher trade deficit (USD 41.2 billion) brought about by a larger increase in merchandise imports relative to exports," said the Reserve Bank (RBI) while issuing the document on Developments in India's Balance of Payments during April-June of 2017-18. In general terms, CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate. During the period, private transfer receipts, mainly remittances by Indians employed overseas, at USD 16.1 billion went up 5.3 per cent over the same quarter of

Shares of Axiscades Technologies continued their northward movement as they froze 10 per cent upper circuit at Rs 282.95 per share in Wednesday's intra-day trade

Since its incubation in 2011, the engagement between the two partners have evolved to cater to increasingly crucial projects with the aerospace major, the release said

Axiscades is owned majorly by Jupiter Capital, an investment company run by Rajeev Chandrasekhar, and entrepreneur and Member of Parliament

He will also join the board as an executive director, subject to approvals