New Delhi, Aug. 20 -- Small-cap stock priced below Rs.25 - Aerpace Industries - was locked in the 5% upper circuit on Wednesday, August 20, following an order win from the United Arab Emirates (UAE).

The multibagger stock earlier today announced the receipt of a Letter of Intent (LoI) from a prominent defence company in the UAE, driving investor interest in the counter.

"On 19th August 2025, Aerpace General Trading LLC, UAE - a subsidiary of Aerpace Industries Limited - received a Letter of Intent from a prominent defence company in the United Arab Emirates," Aerpace Industries said in a filing with the exchanges today.

The small-cap company said in its communication to the bourses that the UAE defence company has evaluated its advance...