PTC Industries soars on inking multi-year contract with Safran Aircraft Engines
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PTC Industries is currently trading at Rs. 5158.95, up by 240.10 points or 4.70% from its previous closing of Rs. 4918.85 on the BSE.
The scrip opened at Rs. 5064.00 and has touched a high and low of Rs. 5164.75 and Rs. 5064.00 respectively. So far 307 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6334.35 on 17-Aug-2023 and a 52 week low of Rs. 2234.00 on 16-May-2023.
Last one week high and low of the scrip stood at Rs. 5164.75 and Rs. 4473.40 respectively. The current market cap of the company is Rs. 6671.07 crore.
The promoters holding in the company stood at 67.03%, while Institutions and Non-Institutions held 2.04% and 30.93% respectively.
PTC Industries has signed multi-year contract with Safran Aircraft Engines, the French global leader in aero engine design, development and manufacturing, to develop industrial cooperation for LEAP engines casting parts.
Under the terms of the contract, PTC Industries will produce titanium-casting parts for Safran Aircraft Engines. This agreement reflects commitment to Indian Government ‘Make in India’ policy. Safran Aircraft Engines’ ambition is to develop a comprehensive aero engines ecosystem in India, strengthening its global supply-chain built for the LEAP production ramp-up.
Based in Lucknow (Uttar Pradesh), PTC Industries has a long-standing expertise in advanced casting processes, as well as precision machining. The first titanium casting parts for LEAP engines are scheduled to be delivered early in 2024 for the LEAP engine powering single-aisle jet.
Incorporated in 1963, PTC Industries is a manufacturer of high-quality engineering components for various critical and super-critical applications.
