Garware-Wall Ropes trades jubilantly on inking MoU with Israel’s Aero-T

Garware Technical Fibres Ltd. | Textile | Textiles & Apparels | BSE: 509557 | NSE: GARFIBRES

05 Jul 2017 Evaluate

Garware-Wall Ropes is currently trading at Rs. 872.30, up by 43.90 points or 5.30% from its previous closing of Rs. 828.40 on the BSE.

The scrip opened at Rs. 848.00 and has touched a high and low of Rs. 897.00 and Rs. 838.05 respectively. So far 12398 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 897.00 on 05-July-2017 and a 52 week low of Rs. 386.10 on 05-Jul-2016.

Last one week high and low of the scrip stood at Rs. 897.00 and Rs. 806.10 respectively. The current market cap of the company is Rs. 1843.67 crore.

The promoters holding in the company stood at 50.68 % while Institutions and Non-Institutions held 4.17 % and 45.25 % respectively.

Garware-Wall Ropes (GWRL) has entered into a Memorandum of Understanding (MoU) with Israel’s Aero-T showing intention to combine their capability for manufacturing and supply of advanced aerostats for Indian Defence.

The MoU between both the entities envisage intention of the parties to establish future co-operation between both companies to facilitate a fully indigenised development, production, delivery and maintenance support for advanced aerostats required for both military and civilian use. The intended co-operation will entail GWRL establishing an aerostat envelope production facility and Aero-T providing the technology, know-how, integration, acceptance and continuous support for the aerostats development & production. Simultaneously, there will be co-operation with Indian R&D establishments, such as DRDO/ADRDE and the end customers to understand their needs and co-develop customized solutions.

Aero-T is a subsidiary of Israel based RT LTA Systems, a designer, developer and manufacturer of world class Aerostats. Aero-T possesses complete know-how for developing and operating a variety of aerostats based on cutting edge technologies accumulated over 30 years of Lighter Than Air (LTA) operations. The team of Aero-T consists of LTA experts with extensive experience in Israel and other countries globally.

GWRL is one of India’s leading players in the technical textiles sector, providing specialized solutions to the cordage and infrastructure industry worldwide.

Garware Tech. Fibres Share Price

749.70 4.85 (0.65%)

24-Jul-2026 16:59 View Price Chart

Peers

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