Lokesh Machines soars 14% on healthy outlook; up 264% so far in 2023

The Indian machine tools market is experiencing a boost from the growing emphasis on industrial automation, which is resulting in increased overall productivity and improved ergonomics

Shares of Lokesh Machines (LML) surged 14 per cent on Thursday to a fresh high of Rs 383.50 on the BSE on the back of a healthy outlook.

So far in calendar year 2023, the stock has zoomed 264 per cent as compared to a 15.3 per cent rise in the BSE Sensex.

The company’s operations are segregated into two divisions namely Machines and Components division.

It is engaged in manufacturing of custom built Special Purpose Machines (SPMs), General purpose CNC Machines (GPMs), Jigs & Fixtures and Machining of automobile Cylinder Blocks, Heads and Connecting Rods, among others.

The Indian machine tools market is