PTC Industries jumped 4.16% to Rs 5,036 after the company said its wholly owned subsidiary, Aerolloy Technologies, has secured a 50 acre land next to Brahmos facility in Lucknow.
PTC Industries has announced the allotment of 20 hectares (50 acres) of land by Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) to PTC's wholly owned subsidiary Aerolloy Technologies (ATL) in Lucknow node of the UP Defence Industrial Corridor.This prime parcel of land is adjacent to the 80 hectares (200 acres) land provided by UPEIDA to Brahmos at the same location.
PTC Industries, a manufacturer of high-quality engineering metal components for various critical and super-critical applications for more than five decades, in recent years, has taken a leap towards manufacturing of strategic materials, components and subsystems for various defence and aerospace applications.
The company intends to set up fully integrated material manufacturing capabilities of all exotic materials, including titanium, cobalt, and nickle superalloys, at this facility. The project will be developed in three phases with a total peak manufacturing capacity of 5,000 tonnes per annum. The facility, among other equipment, will have a vacuum arc remelter that has already been procured.
The project will be commissioned in three phases starting with manufacturing of titanium ingots. The second phase would see the manufacture of nickel super alloys and other exotic metals for the aerospace industry, including nickel and cobalt alloys. The third phase would see PTC developing and supplying additional components and sub-systems for the adjoining Brahmos facility.
Also Read
PTC Industries is development and manufacturing of strategic components and sub systems for various defence & aerospace applications.
The company's consolidated net profit rose 53.85% to Rs 1.80 crore on a 14.28% decline in net sales to Rs 38.29 crore in Q2 FY22 over Q2 FY21.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
