Sunita Tools Ltd invests in HYPRIX Aviation Private Limited

Sunita Tools Limited now developing into a major producer of empty artillery shells, With future and future developments of the shells and the business of shells decided to take a 2 fold approach to developing the much needed fuses for the Artillery shells, First to establish a in house R&D centre to do research and to develop the CCF and PGK fuses and second by joining with external teams who are doing similar research or have platform where they can do faster research with our expertise.

Accordingly, Sunita Tools limited bought a minority stake in the company Hyprix Aviation Private Limited, Hyprix is currently working on precision guiding systems for ammunitions such as course correction fuse and precision guided fuses that retrofit into existing artillery shells to improve accuracy radically, It also is developing supersonic payload delivery systems and they are the first private firm to develop ramjet in India. Hyprix is backed by very sound founders and internationally acclaimed investors.

Sunita Tools and Hyprix together will try to crack the code for these fuses and encash the product on completion.

Commenting on this development, Mr. Sanjay Pandey, Chairman & Whole Time Technical Director of Sunita Tools Limited said: We are happy to announce this Stake purchase by Sunita Tools Limited.

Sunita Tools Limited will get access to a young team of R&D who will be working full time to develop these fuses and these fuses will be our forward integration product to empty and filled artillery shells that we will be manufacturing; With their help we will have access to a huge market that opens up in PGK AND CCF.

Shares of Sunita Tools Limited was last trading in BSE at Rs. 766.00 as compared to the previous close of Rs. 785.00. The total number of shares traded during the day was 4125 in over 26 trades.

The stock hit an intraday high of Rs. 795.00 and intraday low of 762.00. The net turnover during the day was Rs. 3201137.00.

Source : Equity Bulls

Keywords

SunitaTools INE0Q1S01010 IndustrialProducts Investment HYPRIXAviation