Shares of Walchandnagar Industries Limited (WIL) surged 3.18% to ₹158.95 in Tuesday’s session after the company announced the acquisition of a 60.3% stake in AiCitta Intelligent Technology Pvt. Ltd. This move marks WIL’s entry into Unmanned Ground Vehicles (UGVs), a rapidly growing segment in the defense technology space.
AiCitta Intelligent Technology specializes in R&D and manufacturing of UGVs, which play a crucial role in modern warfare. With this acquisition, AiCitta will become a wholly owned subsidiary of WIL, strengthening its position in next-generation defense solutions.
WIL’s MD and CEO, Chirag Doshi, emphasized that this acquisition aligns with the company’s vision to enhance India’s defense capabilities through cutting-edge technology. He stated, “This deal marks an important inflection point in our journey of serving India’s defense needs. It opens up new avenues for growth in next-gen defense technology and intellectual property (IP) creation.”
AiCitta Technologies has already received a Project Sanction Order (PSO) with an opportunity size of approximately ₹1,400 crore. The company aims to have two working prototypes ready for trials in the next 46 weeks.
Stock performance:
- Current price: ₹158.95 (+3.18%)
- Previous close: ₹154.05
- Day’s range: ₹154.45 – ₹159.30
- Market cap: ₹1,072 crore
- 52-week range: ₹142.95 – ₹438.00
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