Lokesh Machines surges on entering into MoU with A WEIL and ARDE
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Lokesh Machines is currently trading at Rs. 115.25, up by 3.25 points or 2.90% from its previous closing of Rs. 112.00 on the BSE.
The scrip opened at Rs. 116.90 and has touched a high and low of Rs. 120.00 and Rs. 115.00 respectively. So far 7032 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.15 on 05-Sep-2022 and a 52 week low of Rs. 62.20 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 122.60 and Rs. 110.50 respectively. The current market cap of the company is Rs. 209.48 crore.
The promoters holding in the company stood at 53.05%, while Institutions and Non-Institutions held 2.13% and 44.82% respectively.
Lokesh Machines (LML) has entered into a Memorandum of Understanding (MOU) with Advanced Weapons & Equipment India, Ministry of Defence (A WEIL) and Armament Research & Development Establishment, DRDO, Ministry of Defence, Government of India (ARDE) on February 15, 2023.
The objectives of the MoU are to establish the framework for co-operation between, A WEIL, LML Hyderabad and ARDE to jointly address the requirements of critical and strategic material required for Indian defence forces, paramilitary forces, police organizations, civil and export market.
Lokesh Machines is an India-based company. The Company has two segments: Machines division and Components division. The company is engaged in the industry of manufacturing of machine tools and auto components. The company’s products include horizontal machining centre (HMC) and vertical machining centre (VML).
