Lakshmi Machine Works inks MoU with Govt of Tamil Nadu

25 Jan 2019

Lakshmi Machine Works has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu at the Global Investors Meeting (GIM) held at Chennai on January 24, 2019. As per the MoU the Company proposes to invest Rs 600 crore over a period until 2024 in its existing business operations.

The investment funded through internal accruals would be for modernizing/upgrading existing business operations of the company in the areas of Textile Machinery, Machine Tools, Foundry castings and Aerospace products. As per the MoU the Government of Tamil Nadu will support by extending fiscal and other incentives, infrastructural support like uninterrupted power supply and regulatory facilitation.

Lakshmi Machine Works is one among the three manufacturers of the entire range of Textile Machinery. LMW diversified into CNC Machine Tools and is a brand leader in manufacturing customized products.

Related Lakshmi Machine Works Ltd. Links:

Lakshmi Machine Work Share Price

2565.20 42.05 (1.67%) May 29, 18:01
1 Year Price Chart
Peers
Company Name CMP
Lakshmi Machine Work 2565.20
Stovec Inds 1884.45
Veejay Lakshmi Engg 21.50
Integra Engineering 22.00
Indian Card Clothing 88.45
View more..
Sensex vs Lakshmi Machine Work
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback

8055769463

8055769463