Rolta up 4% on JV with Meprolight for optronics products

Shares of Rolta India soared over 4 percent intraday on Monday has entered into a joint venture agreement with Meprolight to make sophisticated optronics products in India.

The JV of which 51 percent is owned by Rolta and remaining by Meprolight will address growing demand for night fighting capabilities by the Indian defence and security forces.

“This JV will become operational on receipt of requisite approvals from respective Governments and leverage a broad spectrum of cutting-edge technologies, in the area of Optronics from Meprolight, and Rolta’s leadership position in the India, to address large requirements of defence, paramilitary forces and state police,” a press statement to the BSE says.

At 12:10 hrs Rolta India was quoting at Rs 118.50, up Rs 3.10, or 2.69 percent on the BSE.