Ramkrishna Forgings gains on receiving long-term supply contract worth Rs 121.5 crore
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Ramkrishna Forgings is currently trading at Rs. 232.00, up by 3.00 points or 1.31% from its previous closing of Rs. 229.00 on the BSE.
The scrip opened at Rs. 229.00 and has touched a high and low of Rs. 234.00 and Rs. 226.85 respectively. So far 23499 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 243.78 on 22-Oct-2021 and a 52 week low of Rs. 145.50 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 236.65 and Rs. 224.20 respectively. The current market cap of the company is Rs. 3731.14 crore.
The promoters holding in the company stood at 46.23%, while Institutions and Non-Institutions held 18.49% and 35.28% respectively.
Ramkrishna Forgings has received a long-term supply contract worth Euro 15 million (Rs 121.5 crore) from a reputed Swedish OEM major for 2 components for an Electric Vehicle (EV), for supplies till 2030. This order will be carried out in stages and supplies will ramped-up till 2030. This order signifies not only the company’s strong product development capability, but also the trust that large OEMs have in the company.
Ramkrishna Forgings is engaged in the manufacture of Screw Couplings, Draw Gear Assembly, Snubber Assembly, Hanger, Block Hanger Side Frame Key and various other forgings items of Railway Coaches and Wagon.
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