Lakshmi Machine Works Ltd (LMW), a textile machines manufacturer, is planning entry into the aerospace sector. The BSE-listed company has said it would cater to Hindustan Aeronautics Limited and will take up job works to start with.
Lakshmi Machine Works (LMW) is trading 3% higher at Rs 2,043, after the company announced buyback of equity shares. The Board of Directors will meet on July 28, 2010, to consider the proposal.
Textile machinery maker Lakshmi Machine Works expects sales to grow by up to 30 per cent in FY11, against a fall of over 15 per cent last fiscal, on a rebound in India's textile industry.
