PTC Industries inks pact with Bharat Dynamics; Stock climbs 1.5%

11 Nov 2022 , 09:55 AM

To strengthen the defence infrastructure through the Make in India initiative, PTC Industries Limited, a manufacturer of high-quality engineering metal components for various critical and super-critical applications, has signed a Memorandum of Understanding (MOU) with Bharat Dynamics Limited (BDL), a Defence PSU.

The MoU has been signed under the following scope:

• Design, Develop & Manufacture Aero Engines for Missiles, UAVs, Loitering Munitions or any such other fields where small Turbo Engines would be required other than Fighter Aircraft.

• Formation of an SPV as partners with other Government / Semi-Government or Private entities as agreed to for the creation of Defence Testing infrastructure in the field of Mechanical & Materials under the Ministry of Defence DTIS Scheme implemented by UPEIDA.

Speaking on this collaboration, Sachin Agarwal, Chairman and Managing Director, PTC Industries said: “We are honoured to establish this association with Bharat Dynamics Limited which will propel PTC Industries to the next level of technological excellence.

Through this association, we aim to tackle major bottlenecks in material and mechanical system testing that private enterprises confront and are confident of efficiently resolving these for seamless qualification and certification of goods in a short period of time.”

At around 10:01 AM, PTC Industries was trading at Rs2950 per share higher by 1.50% as against previous closing of Rs2906.50 per share on the BSE.

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