This Mid-Cap Stock Is Up By More Than 3% After Delivering A Key Payload To ISRO

Shares of Lakshmi Machine Works surged on Wednesday after the Coimbatore-based company’s Advanced Technology Centre (LMW ATC) delivered a composite Ogive Payload Fairing to the Indian Space Research Organisation (ISRO) for the GSLV MK-III project on April 2.

What Happened: This payload fairing protects the satellite from aerodynamic, thermal, and acoustic stresses during the launch. The GSLV MK-III’s payload fairing, measuring 5 meters in diameter and 10.75 meters in height, consists of four segments: the boat tail, cylinder, ogive, and nose cap.

Tamil Nadu industries minister TRB Rajaa expressed immense pride in LMW ATC’s achievement of delivering India’s first industry-realised composite Ogive Payload Fairing for GSLV MK-III to ISRO, highlighting Coimbatore’s innovative prowess and its growing role in the aerospace and defence sectors.

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This milestone, according to Rajaa, not only emphasizes Coimbatore’s contributions to Tamil Nadu and India but also demonstrates the region’s capability to support significant national projects and the global space industry.

He reaffirmed Tamil Nadu’s commitment to nurturing an innovation-friendly environment that promotes high-value job creation.

Price Action: Lakshmi Machine Works Ltd. shares were trading 3.13% higher at ₹16,878.00 on Wednesday at midday.

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