MTAR signs MoU with IN-SPACe India for Small Satellite Launch Vehicle

MTAR has signed an MoU with Indian National Space Promotion and Authorization Centre (IN-SPACe) for design and development of a Two Stage to Low Earth Orbit All Liquid Small Satellite Launch Vehicle powered by semi cryogenic technology with a payload capacity of 500 kg. Both the parties have entered into framework MoU for various requirements including avionics, sub systems testing, facilitation of launch etc. and any other requirements that might emerge during the course of design, development and launch phase. The MoU shall remain in force for three years.

"MTAR has consistently embraced innovation to indigenise new technologies for India. Now the company is taking a leap forward to graduate from precision engineering to complete system integration by initiating the development of a Two Stage to Low Earth Orbit All Liquid Small Satellite Launch Vehicle project to address a payload of 500 kg in the Low Earth Orbit. The company has adopted all liquid route to leverage more than three decades of expertise in manufacturing liquid propulsion engines," said Parvat Srinivas Reddy, Managing Director of MTAR Technologies Limited.

Shares of Mtar Technologies Limited was last trading in BSE at Rs. 1710.05 as compared to the previous close of Rs. 1739.35. The total number of shares traded during the day was 11818 in over 2116 trades.

The stock hit an intraday high of Rs. 1750.60 and intraday low of 1703.00. The net turnover during the day was Rs. 20358149.00.

Source : Equity Bulls

Keywords

MtarTechnologies INE864I01014 MoU INSPACe SmallSatelliteLaunchVehicle SemiCryogenicTechnology