Textile stock engaged in manufacturing and supplying a range of fabrics hit a 5 percent upper circuit in the day’s trade upon entering into Technology Transfer Agreement (TOT) with Defence Research Laboratory (DRDO).
With a market capitalization of Rs. 39 Crores, the shares of Sunil Industries Limited hit a 5 percent upper circuit at Rs. 93.71, from its previous day’s close price of Rs. 89.10.
Sunil Industries Limited and Le Merite Exports Limited have entered into a Technology Transfer Agreement (TOT) with Defence Research Laboratory (DRDO), Tezpur. This agreement is for a duration of ten years and pertains to the manufacture and sale of two innovative products, namely Anti Microbial Bed Sheets and Anti Bed Bug Bed Sheets.
This collaboration aligns with its strategic initiatives to expand its product portfolio and enhance its market presence in the specialized textile sector, particularly in serving the defence sector and government bodies with advanced, high-quality products.
As for the Significant terms and conditions, DRDO shall transfer the details of the available technical know-how and testing method for quality assurance to the Company for the products.
The Defence Research and Development Organisation (DRDO) is an agency of the Government of India, responsible for the research and development of technology for use by the Indian military. Established in 1958, DRDO operates under the administrative control of the Ministry of Defence.
It aims to make India self-reliant in defence systems and technology, covering a wide array of areas such as aeronautics, armaments, electronics, land combat engineering, life sciences, materials, missiles, and naval systems.
Sunil Industries Limited engaged in manufacturing and supplying a range of fabrics, Its product range includes cotton fabrics, flannelette cloth & flannelette rolls-bleached, dyed, printed and polyester/cotton and polyester, viscose blended shirting, suiting, in various weaves and blends in bleached dyed and printed form.
Written by: Bharath K.S
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