Shares of Lloyds Engineering Works Ltd (LEWL) ended nearly 2.5% lower after touching a day’s high of Rs 61.80 on 14th October, despite the company announcing that it had signed a Memorandum of Understanding (MoU) with Poland-based FlyFocus to jointly develop advanced First Person View (FPV) drones for India’s defence and security sectors.

The new agreement builds upon their existing partnership in the Defender drone program. It focuses on developing agile, short-range drones to enhance India’s tactical and rapid-response capabilities.

According to Lloyds Engineering, this collaboration highlights their shared goal of delivering next-generation, India-specific drone solutions. While the Defender drones are designed for long-range surveillance, the new FPV drones will be utilised for close-range missions. These missions include real-time reconnaissance, urban security, training, and special operations.

Currently, the firm’s market capitalisation stands at around Rs 7,852 crore.

At 3:30 PM, the shares of Lloyds Engineering ended 2.36% lower at Rs 59.55 on NSE.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!