Indo National touches roof as its arm bags Rs 100 crore contract from BAE Systems
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Indo-National is currently trading at upper limit of Rs. 545.35, up by 10.65 points or 1.99% from its previous closing of Rs. 534.70 on the BSE.
The scrip opened at Rs. 545.35 and has touched a high and low of Rs. 545.35 and Rs. 545.35 respectively. So far 90 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 545.35 on 19-Oct-2023 and a 52 week low of Rs. 284.35 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 545.35 and Rs. 496.50 respectively. The current market cap of the company is Rs. 409.01 crore.
The promoters holding in the company stood at 65.35% while Non-Institutions held 34.65% stake in the company.
Indo National’s step-down subsidiary---Kineco Kaman Composites India has been awarded a Rs 100 crore ($12.39 Million) contract from BAE Systems to manufacture and export fully assembled Mission Crew Workstations (Consoles) for the Boeing P-8 Poseidon Aircraft. The Boeing P-8 Poseidon is a long-range multi-mission patrol and reconnaissance aircraft regarded as one of the most capable aircraft in its class. The Indian Navy operates 12 P-8 Poseidon aircrafts.
Kineco Kaman has been engaged on this program since 2013 and supplied over 700 Consoles to BAE Systems. Kineco Kaman has been awarded several Gold Supplier awards by BAE Systems for its 100% on-time delivery & quality performance. In 2020, it was awarded the BAE Systems ‘Partner2Win Supplier of the Year’ award for its exceptional performance.
Indo-National (formerly, Nippo Batteries Company) is a leading manufacturer of dry-cell batteries in India. The company also offers Flashlights (torches), LED lights, Mosquito bats and emergency power back-up products.
