MTAR Technologies zooms on receiving Defence Industrial License
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MTAR Technologies is currently trading at Rs. 2298.00, up by 69.95 points or 3.14% from its previous closing of Rs. 2228.05 on the BSE.
The scrip opened at Rs. 2246.00 and has touched a high and low of Rs. 2321.65 and Rs. 2225.00 respectively. So far 22886 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2450.00 on 24-Aug-2023 and a 52 week low of Rs. 1472.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2450.00 and Rs. 2151.10 respectively. The current market cap of the company is Rs. 7065.48 crore.
The promoters holding in the company stood at 39.14%, while Institutions and Non-Institutions held 32.53% and 28.33% respectively.
MTAR Technologies has received the Defence Industrial License (DIL: 14(2023)) for production of various mechanical and electronic subsystems in Defence sector. This will facilitate the ease of doing business with foreign MNCs on various defence projects. The license will enable the company to be partner with foreign MNCs and cater to both Domestic & Export markets by taking up projects under Buy (Indian), ‘Buy & Make (Indian)’ & ‘Make’ categories of acquisition, thereby increasing the share of Defence in the company’s revenues.
MTAR Technologies is a leading precision engineering solutions company engaged in the manufacture of mission critical precision components with close tolerances (5-10 microns).
