Shares of Lloyds Engineering Works Ltd moved higher on Thursday after the company said it had entered into two contract agreements with Poland-based Kliver Polska Sp. z o.o., according to a regulatory filing.
The agreements, signed on November 20, are valued at $163,900 and €310,000 respectively.
Under the first contract, Kliver Polska will design, prototype and deliver a towed reel for a multifunctional underwater platform.
The second agreement covers the design, prototyping and delivery of an operational test tilt stand, the filing noted. Both contracts fall under Lloyds Engineering’s ongoing expansion of its engineering and specialised equipment capabilities.
Also Read: Lloyds Metals Q2 Results: Net profit zooms 90% on 154% revenue surge
Post announcement, the stock climbed to an intraday high of ₹57.13. As of 3:06 PM, shares were trading at ₹56.74, up 2.81% on the NSE.
