Mafatlal stock up 15% on pact with armed forces for anti-microbial bed sheets

The company has given -9.33% returns over the last 6 months and 155.21% over the last 12 months.

The Mafatlal Industries stock gained 15 percent on June 15 after the textiles firm signed an agreement with the Defence Research and Development Organisation (DRDO) and the defence ministry to make and sell anti-microbial bed sheets

The Technology Transfer Agreement (ToT) will support the company’s strategic initiatives to expand product range and market presence, particularly in serving the defence sector with advanced, high-quality products, Mafatlal said in an exchange filing.

According to DRDO, there is a need for such bedsheets since military barracks are susceptible to microbial infections due various environmental and situational factors.

The stock rocketed 15 percent after the company’s announcement. At 2.44 pm, the stock was trading at Rs 155.85 on the BSE, up 13 percent from the previous close.

The stock has lost 9.33 percent over the last six months but has gained 155.21 percent over the last 12 months.

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