PTC Industries soars on signing MoU with Bharat Dynamics
PTC Industries is currently trading at Rs. 17085.00, up by 274.15 points or 1.63% from its previous closing of Rs. 16810.85 on the BSE.
The scrip opened at Rs. 16979.30 and has touched a high and low of Rs. 17369.85 and Rs. 16841.75 respectively. So far 871 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 17978.00 on 09-Jan-2025 and a 52 week low of Rs. 9786.30 on 20-Feb-2025.
Last one week high and low of the scrip stood at Rs. 17369.85 and Rs. 15875.10 respectively. The current market cap of the company is Rs. 25779.59 crore.
The promoters holding in the company stood at 59.75%, while Institutions and Non-Institutions held 11.63% and 28.61% respectively.
PTC Industries has signed a Memorandum of Understanding (MoU) with Bharat Dynamics to establish a Joint Venture Company dedicated to the design, development and manufacture of complete propulsion systems, guided bombs, and aero-engines for missiles, UAVs and loitering munitions, subject to requisite regulatory approvals.
This collaboration will propel the ‘Make in India’ initiative by reducing dependence on foreign suppliers and enhancing domestic propulsion manufacturing capabilities including liquid and solid rocket motors, ramjet and turbojet engines for UAVs and drones. It will also leverage the company’s strengths in manufacturing of components for defence equipment and critical materials for missiles, munitions, turbo aero engines and subsystems for Defence and Aerospace platforms to create an integrated, India-based design-to-delivery pathway for strategic propulsion and engine technologies.
PTC Industries is a leading Indian manufacturer of precision metal components for critical applications for over 60 years.
