Sika Interplant Systems share price surged as much as 13.59 per cent to hit 52-week high in Thursday’s trading session to ₹1,347.7 apiece on Bombay Stock Exchange (BSE).
Sika Interplant Systems stock rallied after the company announced on Tuesday that it had signed a major License Agreement with Goodrich Actuation Systems SAS (France) and Goodrich Actuation Systems (UK), both subsidiaries of Collins Aerospace, which is a part of RTX Corporation (previously known as Raytheon Technologies).
“ We wish to inform you that SIKA Interplant Systems Limited (“SIKA”) has entered into a License Agreement with Goodrich Actuation Systems SAS (France) and Goodrich Actuation Systems Limited (UK), each a part of Collins Aerospace (“Collins”),” the company said in an exchange filing.
More about the agreement
According to the filing, the agreement grants Sika the authority to carry out maintenance, repair, and overhaul (MRO) services for certain primary flight control actuation components for which Collins is the original equipment manufacturer (OEM).
These components are essential parts of the Airbus A320 and A321 aircraft series, which rank among the most widely operated commercial aircraft worldwide.
As per the agreement, Sika Interplant Systems has been granted a license to maintain aircraft components for planes registered in India and certain nearby countries, broadening the company’s regional reach.
This development represents a key strategic achievement for Sika, in line with its goal to strengthen its Maintenance, Repair, and Overhaul (MRO) capabilities to better support the aviation and aerospace industries across India and its neighboring regions.
The partnership designates Sika as an authorized MRO provider for Collins Aerospace components, potentially opening doors to greater business opportunities from both commercial airlines and defense aviation operators using A320-family aircraft.
Sika Interplant Systems share price has rallied over 56 per cent in past five trading sessions and over 80 per cent in over a month. The defence stock has given multibagger returns to its long-term investors by soaring over 166.37 per cent in one year.
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