Lokesh Machines Secures Initial License for Small Arms Manufacturing - News

Lokesh Machines received the Initial License (Form VIJ) for Small Arms Manufacturing, subject to payment of applicable fees. After receiving an initial license to manufacture small arms, the company’s shares touched a 52-week high of INR 185.50 on the BSE on June 15, but it had not obtained a copy of the license yet. 
The NSE and BSE had pending buy orders for 450,000 shares, and 1.7 million shares had traded. The S&P BSE Sensex rose 3.4 percent in 2023, while the stock soared 75 percent.
Lokesh Machines operates in two divisions—machines and components—with five production units in Hyderabad and one in Pune, with a total installed capacity of 900 General-Purpose Machines (GPM) and 10 Special Purpose Machines (SPM) per year. The company’s order book was INR 216.82 crore as of March 31, 2023. CARE Ratings expects India’s machine tools market to increase steadily from FY 2023 to FY 2027. It also anticipates India to benefit from Global Supply Chains in Engineering and Automotive sourcing from India as a China Derisking strategy.