Lokesh Machines inks MoU with AMTDC, IIT Madras

22 Nov 2022 , 12:59 PM

Lokesh Machines Limited has entered into a Memorandum of Understanding (MoU) with Advanced Manufacturing Technology Development Centre, IIT Madras and the confirmation letter for the same has been received by the company on November 21, 2022.

The MOU calls for the development of critical technologies such as the Rotary Drive Unit for the Milling Head and the Integrated Milling Spindle, which will replace critical imported technologies required for the development of 5-axis machine tools, as well as the construction of thermally stable machine tool structure and other machine tool elements that will ensure a thermally efficient high precision machine.

The Governing Board of IIT Madras established AMTDC as a Centre of Excellence for Machine Tools and Production Technology.

At around 1.04 PM, Lokesh Machines was trading at Rs105.80 down by 0.42% from its previous closing of Rs106.25 on the BSE. The scrip opened at Rs104.05 and touched intraday high and low of Rs106.90 and Rs101 respectively.

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