Garware Wall Ropes touches 52-week high, signs MoU with Aero-T

Moneycontrol News

Shares of Garware Wall Ropes touched 52-week high of Rs 897, advances more than 8 percent intraday Wednesday on the back of signing of MoU with Israel company Aero-T.

“The company has signed 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,” as per press release.

Vayu Garware, CMD of Garware Wall Ropes said, “The MoU with Aero-T marks another step on our Make IN India approach wherein we along with Aero-T will be able to cater to the needs of the Indian Defence by providing completely indigenized aerostats backed by our reliable delivery and maintenance support.”