India's MTAR Technologies rises on receiving Defence Industrial License

MTAR Technologies

30/08/2023 09:06

** Shares of MTAR Technologies  MTAR.NS  rise as much as
3.4% to 2,305.35 rupees
    ** The precision engineering co says Government of India has
granted it Defence Industrial License for production of various
mechanical and electronic subsystems
    ** Grant will help co to partner with foreign MNCs and cater
to both domestic and export markets
    ** More than 480,800 shares change hands by 1:19 p.m. IST,
1.3x the 30-day avg of 379,740 shares
    ** All of the five analysts covering the stock have a "buy"
or higher rating; median PT is 2,410 rupees - Refinitiv data
    ** Stock up 37.8% so far this year, up to last close


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))