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Carborundum Universal has also decisively broken consolidation range and formed bullish candlestick pattern with making higher high higher low formation. The stock ended at record closing high at Rs 1,116, up 3.6 percent with above average volumes and traded above all key moving averages since April.
The Board of Directors of MTAR Technologies Limited have approved the financial results of the company for the period ended December 31, 2022 - Q3FY23, 9MFY23 at its board meeting.
MTAR Technologies stock touched a high of Rs 1755, up 2.82% on BSE within minutes of opening trade. The stock opened higher at Rs 1720.75 against the previous close of Rs 1706.90 on BSE
MTAR has signed an MoU with 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.
Shares of MTAR Technologies were in focus today after global brokerage Macquarie initiated coverage on the firm. MTAR Technologies' stock is expected to rise 57.6 per cent to Rs 1,920, according to the brokerage. Macquarie has assigned 'outperform' rating to the stock adding that MTAR Technologies is experiencing accelerated growth in end markets. The stock has gained after two days of fall. Shares of MTAR Technologies climbed 1.87 per cent to Rs 1,250 against the previous close of Rs 1218.10 on BSE.