PTC Industries Limited saw its shares surge over 3% following the announcement of a strategic partnership with Bharat Dynamics Limited (BDL). The two companies have signed a Memorandum of Understanding (MoU) to form a Joint Venture Company (JVC) aimed at boosting India’s indigenous defence capabilities.
The new entity will focus on the design, development, and production of complete propulsion systems, guided bombs, and aero-engines for missiles, UAVs, and loitering munitions, subject to regulatory approvals.
The MoU was exchanged during the Lokarpan Ceremony of PTC’s Titanium & Superalloys Materials Plant at the Strategic Materials Technology Complex (SMTC) in Lucknow, in the presence of Defence Minister Shri Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath.
The collaboration is expected to reduce India’s dependence on foreign suppliers and accelerate the domestic production of strategic propulsion systems, including liquid and solid rocket motors, ramjet, and turbojet engines for missiles, UAVs, and drones. Leveraging PTC’s advanced manufacturing expertise and material technology, the venture will establish a fully integrated India-based design-to-delivery ecosystem for strategic propulsion and engine technologies.
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