Ramkrishna Forgings rises on getting nod to acquire upto 51% voting rights in TSUYO Manufacturing
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Ramkrishna Forgings is currently trading at Rs. 258.30, up by 1.55 points or 0.60% from its previous closing of Rs. 256.75 on the BSE.
The scrip opened at Rs. 259.65 and has touched a high and low of Rs. 266.30 and Rs. 255.30 respectively. So far 97168 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 266.30 on 15-Dec-2022 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. 266.30 and Rs. 228.65 respectively. The current market cap of the company is Rs. 4142.74 crore.
The promoters holding in the company stood at 46.27%, while Institutions and Non-Institutions held 19.06% and 34.68% respectively.
Ramkrishna Forgings’ board has approved an investment to acquire upto 51% voting rights of TSUYO Manufacturing (TSUYO), a Make-In-India start-up company engaged in powertrain solutions for electric vehicles.
TSUYO currently manufactures powertrain solutions for electric vehicles. This proposed investment will help TSUYO to use the technological expertise and manufacturing skills of both organizations to enhance its product portfolio and expand its facilities for the manufacture of motors, controllers, E-axles, and differentials. The company plans to invest around Rs. 100 crore over the next 5 years, which is expected to generate a turnover of around Rs 500 crore by the end of the fifth year.
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.
