Lokesh Machines shares were locked in the 10% upper circuit on Friday after the company announced a major development in its defence manufacturing journey. The company has received a Registration Certificate from the Director General of Quality Assurance (DGQA), Ministry of Defence, Government of India, which authorises it to manufacture defence-related items at its in-house facility.
This approval is valid till August 19, 2030, and is expected to significantly expand the company’s existing product portfolio. With this recognition, Lokesh Machines will now be able to cater to the defence sector directly, strengthening its position in a highly strategic and regulated industry.
The management highlighted that the DGQA registration will not only open up new business opportunities but also reinforce the company’s long-term growth prospects by tapping into India’s growing focus on indigenisation and self-reliance in defence manufacturing.
Lokesh Machines shares opened at ₹204.00 compared to its previous close of ₹203.33 and gained momentum, hitting an intraday high of ₹223.66. On the downside, it touched a low of ₹200.35 during the day. In comparison with its broader trend, Lokesh Machines continues to trade well above its 52-week low of ₹127.93 but remains far from its 52-week peak of ₹447.90.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
