PTC Industries spurts on signing MoU with Hindustan Aeronautics- SED
PTC Industries is currently trading at Rs. 2533.00, up by 56.70 points or 2.29% from its previous closing of Rs. 2476.30 on the BSE.
The scrip opened at Rs. 2548.95 and has touched a high and low of Rs. 2560.00 and Rs. 2510.00 respectively. So far 1548 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3080.00 on 02-Nov-2022 and a 52 week low of Rs. 1,303.33 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2677.00 and Rs. 2399.65 respectively. The current market cap of the company is Rs. 3389.73 crore.
The promoters holding in the company stood at 67.93%, while Non-Institutions held 32.07% stake in company.
PTC Industries has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics- SED (HAL SED) to explore opportunities for mutual cooperation and business development for indigenisation of aviation grade Raw Materials, Components, Sub-systems and Systems of Aero-Engines of Russian origin aircraft.
As part of the MoU, the two organizations will explore opportunities for Development, manufacturing, and supply of ‘Ready to Fit‘ single crystal blades; Development, manufacturing, and supply of various critical engine components for Su-30 and MIG-29 engines; Development, manufacturing, and supply of various ‘Ready to Use’ LRUs and sub-systems; Development, indigenisation, and certification of various Aero Engine materials viz, Titanium Alloys, Nickel based Super Alloys, Special Aero Steels and Aluminium Alloys; and Machining of certain critical components and parts for aerospace applications. This agreement will take PTC Industries to the next level of technological excellence for manufacturing of critical aeroengine parts and small engines within the country.
Incorporated in 1963, PTC Industries is a manufacturer of high-quality engineering components for various critical and super-critical applications.
