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Ramkrishna Forgings moves up on securing business contract worth $13.65 million per year
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Ramkrishna Forgings is currently trading at Rs. 586.40, up by 4.00 points or 0.69% from its previous closing of Rs. 582.40 on the BSE.
The scrip opened at Rs. 586.65 and has touched a high and low of Rs. 591.00 and Rs. 576.60 respectively. So far 30954 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 599.40 on 09-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. 599.40 and Rs. 561.90 respectively. The current market cap of the company is Rs. 9428.60 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 secured substantial business contract valued at $13.65 million per year for supplying Rear Axle and Transmission Components. This significant achievement marks a substantial step towards bolstering the company's growth portfolio within the North American region.
The awarded contract pertains to the production and supply of Rear Axle and Transmission Components for Class 5, 6, and 7 vehicles. This latest endeavor reflects the company's unwavering commitment to delivering high-quality components that contribute to the optimal performance of vehicles in this critical market segment. With this accomplishment, the company is strategically expanding its footprint in North America and serves as a pivotal opportunity to strengthen its position within the Light Vehicle sector. The continuous growth trajectory showcased by this substantial business contract underscores the Company’s dedication to meeting and exceeding the demands of the North American market. This achievement not only solidifies its position as a key player in the industry but also demonstrates its ability to forge strong partnerships and secure meaningful business ventures.
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.
