Ramkrishna Forgings gains on winning business contract worth around Rs 73.65 crore
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Ramkrishna Forgings is currently trading at Rs. 660.85, up by 6.95 points or 1.06% from its previous closing of Rs. 653.90 on the BSE.
The scrip opened at Rs. 666.95 and has touched a high and low of Rs. 666.95 and Rs. 655.85 respectively. So far 14424 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 688.80 on 22-Aug-2023 and a 52 week low of Rs. 175.50 on 26-Sep-2022.
Last one week high and low of the scrip stood at Rs. 680.45 and Rs. 648.60 respectively. The current market cap of the company is Rs. 10597.07 crore.
The promoters holding in the company stood at 46.27%, while Institutions and Non-Institutions held 20.54% and 33.18% respectively.
Ramkrishna Forgings has been awarded a substantial business contract worth 8.25 million Euros (around Rs 73.65 crore) by a prominent European OEM & Tier 1 supplier. This momentous agreement underscores the company's commitment to excellence and innovation in the automotive components space.
Under the terms of this agreement, the company will be supplying front and rear axle components for the next 5 years. This contract reflects a commitment of 1.65 Million Euros per year, a testament to the enduring partnership between the Company and these industry leaders. This contract underscores the Company’s unwavering dedication to technological advancement, precision engineering, and unparalleled customer service. This achievement not only demonstrates the company's exceptional product quality and reliability but also showcases the commitment to establishing itself as a key player in the South American automotive landscape.
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.
