MTAR Technologies Limited, India's leading precision engineering solutions company has been conferred the prestigious National Level Champion Award from Society of Indian Defence Manufacturers (SIDM) under Import substitution for Mission Critical Parts / Systems / Sub-systems medium category for Ball Screws by Honourable Defence Minister of India Shri Rajnath Singh at New Delhi on September 28, 2021.
Ball Screws are the highly complex import substitutes that are used in various mission critical assemblies including nuclear island assemblies, motion control actuation systems in Missiles and Launch vehicles in civil Nuclear power, Space & Defence sectors.
Commenting on the same, Mr. Parvat Srinivas Reddy, Managing Director said, "We are extremely proud to receive the National Level Champion Award from Defence Minister for contributing towards the goal of import substitutes and Atmanirbhar Bharat. Since its inception MTAR has been diiven by a desire to indigenize technologies for the nation to benefit the greater community. Accordingly, we have always invested in futuristic technologies, infrastructure and knowledge to indigenize the technologies for the nation. Currently, we are developing associated technologies - for roller screws that substitutes imports across Defence and Space segments. Indian Manufacturing is witnessing one of the most exciting phases amidst the push by government on 'Atmanirbhar Bharat', MTAR would like to develop more indigenous products with innovative manufacturing technologies to contribute to self-reliant India."
Shares of MTAR Technologies Limited was last trading in BSE at Rs. 1395 as compared to the previous close of Rs. 1423.5. The total number of shares traded during the day was 28075 in over 2806 trades.
The stock hit an intraday high of Rs. 1440.7 and intraday low of 1388. The net turnover during the day was Rs. 39525425.