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(20 Jan 2024, 09:42)

Rico Auto soars after signing tech-transfer agreement with DRDO

Rico Auto Industries jumped 4.95% to Rs 95.41 after the company announced that its wholly-owned subsidiary AAN Engineering Industries has signed Licensing Agreement for Transfer of Technology (TOT) with DRDO.


Defence Research and Development Organisation’s (DRDO’s) Terminal Ballistics Research Laboratory (TRBL) has signed the technology transfer agreement for "Baffle Range System”.

Rico Auto Industries manufactures machined engine and die-casting and clutch parts for leading two- and four-wheeler original equipment manufacturers (OEMs) across the globe.

The company's consolidated net profit fell 15.52% to Rs 6.75 crore on a 5.21% decline in sales to Rs 553.89 crore in Q2 FY24 as compared with Q2 FY23.


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