Lloyds Engineering Works Soars 3% on New Defence Unit Incorporation
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TL;DR
Lloyds Engineering Works shares surged 3.2% after announcing a new defence unit, Lloyds Advanced Defence Systems, focusing on defence equipment manufacturing and technology.
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Lloyds Engineering Worksdefence unitstock surgeBSEmarket capitalization
Lloyds Engineering Works shares rose 3.2% on the BSE, logging an intra-day high at ₹52.23 per share, after the company announced the establishment of a new defence unit, Lloyds Advanced Defence Systems. The new unit will carry out defence equipment manufacturing, technology development, and consultancy services. The company's total market capitalization stands at ₹6,055.73 crore.
