PTC Industries shines on completing acquisition of EBCHR furnace
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PTC Industries is currently trading at Rs. 2200.00, up by 71.65 points or 3.37% from its previous closing of Rs. 2128.35 on the BSE.
The scrip opened at Rs. 2175.00 and has touched a high and low of Rs. 2209.85 and Rs. 2070.60 respectively. So far 1956 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2,257.61 on 12-Apr-2022 and a 52 week low of Rs. 899.27 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 2209.85 and Rs. 1815.65 respectively. The current market cap of the company is Rs. 2856.60 crore.
The promoters holding in the company stood at 67.80%, while Non-Institutions held 32.20% stake in the company.
PTC Industries has successfully completed the acquisition of the Electron Beam Cold Hearth Remelting (EBCHR) furnace with a capacity of 5,000 tonnes per annum, through its wholly owned subsidiary Aerolloy Technologies (ATL). This is in line with PTC’s guiding principle (Dharma) of achieving Parity in the sphere of metal and metal component manufacturing within India. This is a momentous achievement, one that holds tremendous significance for building an Aatmanirbhar Bharat by paving the way for manufacturing of Strategic and Critical materials for Defence, Aerospace, Medical and Industrial applications indigenously.
With the installation of this EBCHR furnace, the world’s largest single site Titanium recycling facility shall now be set up in India, and make PTC one of the very few companies in the world with the manufacturing capacity and technology for remelting and recycling Titanium scrap within the country and producing aviation-grade Titanium alloy ingots indigenously. Currently, only USA and France possess this capability in the western world, and this landmark step will now put India among a select group of countries who have the ability to manufacture Titanium ingots by recycling and remelting.
PTC Industries is supplier and manufacturer of earth moving machine equipments, fork, machine tools, pump, spare parts -valves & pumps. It is exporter of stainless steel casting and non ferrous alloy.
