Lokesh Machines locked in 20% upper circuit on licence to manufacture small arms

The company in the quarter ended had posted 9 percent jump in its Q4FY23 net profit at Rs 2.96 crore against Rs 2.71 crore in March 2022.

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Lokesh Machines share price locked at 20 percent upper circuit and touched a 52-week high on June 15 after company received licence to manufacture small arms.

The share has touched 52-week high of Rs 185.85 and there were pending buy orders of 88,653 shares, with no sellers available.

Lokesh Machines has informed that an intimation has been received from the Ministry of Home Affairs, New Delhi, stating that the Initial License (Form VIJ) for manufacturing of small arms has been granted to Lokesh Machines Limited, subject to payment of applicable fees.

In the last one year, the share price surged over 150 percent.

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The company in the quarter ended had posted 9 percent jump in its Q4FY23 net profit at Rs 2.96 crore against Rs 2.71 crore in March 2022.

Revenue of the company was at Rs 67 crore in March 2023, up 2.74% from Rs 65.21 crore in March 2022.

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