Sika Interplant receives double recognition for its performance; stock jumps ~5%

6 Apr 2022 , 03:16 PM

Sika Interplant Systems is thriving as it has been awarded not one but two recognitions recently. It's counter added 5% so far in today's trade.

The company has been awarded ‘Excellence in Aerospace Indigenisation’ at the Society of Indian Aerospace Technologies & Industries’ biennial awards ceremony held on February 17, 2022. This award was presented jointly by Dr. K. Sivan, the former Secretary of the Department of Space and Chairman of Indian Space Research Organisation and Space Commission, and Mr. R. Madhavan, Chairman & Managing Director of Hindustan Aeronautics Limited.

The company was honoured with this award in recognition of its contribution to the indigenous design, manufacture, integration, development, supply, and lifecycle support for a high-precision aerospace and defence system.

Kunal Sikka, Managing Director, SIKA, commented, “We are pleased and honoured to be receiving these recognitions, which vouch for our long-term strategy of targeted investments within the aerospace and defence sector. Thanks to the excellent work and cooperation of our teams–whose commitment and resilience were, once again, thoroughly demonstrated in 2021–and the trust of our customers, SIKA has been able to make steady progress in recent years in alignment with the Indian government’s Aatmanirbhar Bharat vision

In another honour, a recent report published by the Financial Times (FT) has recognized SIKA as one of the “High-Growth Companies Asia-Pacific 2022.” This annual FT ranking of 500 of the Asia-Pacific region’s high-growth companies – compiled in partnership with research provider Statista–is now in its fourth edition; notably, SIKA had featured in the 2021 version as well.

Sika's stock is currently trading at Rs705.35, up by 4.99% against its previous close of Rs671.80 on BSE. It touched intraday high and low of Rs705.35 and Rs670 so far.