MTAR Tech anticipates more orders in the defence, clean, and nuclear energy sectors

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Image Courtesy: CNBC

MTAR Technologies’ managing director (MD) and promoter, Srinivas Reddy, told CNBC-TV18 that the company expects additional orders in the defence, renewable, and nuclear energy sectors. The precision engineering solutions provider announced a strong set of profits for the June quarter, with consolidated revenue increasing by 10.9 percent and margins increasing by 26.7 percent.

“We anticipate a large number of orders from the renewable energy industry, as well as nuclear and space.” We were scheduled to receive orders in the domestic segment in Q1 (FY22), however owing to COVID-related difficulties, most of the offices were not completely operational. As a result, we anticipate a large number of orders in the next three quarters,” Reddy added.

Furthermore, After a slight break on Friday, the Indian markets resumed their winning run on Monday, with private bank stocks helping the Sensex and Nifty close in the green. Midcaps, on the other hand, underperformed and ended the day in the red.

At the market close today, the BSE Sensex increased by over 125 points, or 0.23 percent, to 54,403, while the Nifty50 increased by 20 points, or 0.12%, to 16,258.25. The mid-cap index, on the other hand, had a negative performance, falling by more than 200 points, or 0.73 percent, to 27742.5 at the closing today.

Moreover, Bharti Airtel led the Sensex gainers with a 3.97 percent gain, followed by ITC, Tech Mahindra, and Tata Steel. The biggest laggards on the Sensex were SBI, IndusInd Bank, ICICI Bank, and Bajaj Finance. The VIX in India plummeted 2.57 percent.

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