German Weapons Manufacturer Rheinmetall Included in DAX Index
Since last February 24, Rheinmetall’s share price has more than doubled and the company’s capitalization has exceeded 10 billion euros.
On February 20, German arms manufacturer Rheinmetall was included in the DAX Index, which tracks the performance of the top 30 German companies by market capitalization. This was announced on the website of the Xetra exchange in Frankfurt am Main.
Since last February 24, Rheinmetall AG’s share price has risen 144.63% to €236.8 per share. The company is capitalized at more than 10 billion euros.
Rheinmetall AG is a German company and one of the largest manufacturers of military equipment and armaments in Germany and Europe. It manufactures mainly tanks and other armored vehicles, other military equipment and weapons, and vehicle components. the company was founded in Düsseldorf on April 13, 1889.
In early March, Rheinmetall AG head Armin Pappeger revealed that the company is in talks with Ukrainian authorities about building a plant in Ukraine capable of producing up to 400 mainline Panther-type tanks annually. Papperger also talked in February about plans to send Marder infantry fighting vehicles to Ukraine, and there are reports that other Rheinmetall weapons and weapon systems will also be supplied to Kiev.
“Thanks to a significant rise in its stock market valuation, Rheinmetall, a military company and vehicle supplier, has moved to the top of the stock market.” FMC, a supplier of dialysis products, lost its position in the index and moved to the mid-cap index,” the stock exchange said in its letter.
Another arms manufacturer, Hensoldt, increased its capital against the backdrop of the geopolitical crisis in Ukraine, allowing it to move from the small-cap index (SDAX) to the mid-cap index (MDAX), the letter said.