Ramkrishna Forgings rises on completing acquisition of Resortes Libertad S.A. de C.V.
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Ramkrishna Forgings is currently trading at Rs. 928.30, up by 2.85 points or 0.31% from its previous closing of Rs. 925.45 on the BSE.
The scrip opened at Rs. 920.00 and has touched a high and low of Rs. 940.45 and Rs. 907.55 respectively. So far 9992 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 998.35 on 05-Jul-2024 and a 52 week low of Rs. 576.60 on 14-Aug-2023.
Last one week high and low of the scrip stood at Rs. 952.90 and Rs. 907.55 respectively. The current market cap of the company is Rs. 16698.00 crore.
The promoters holding in the company stood at 43.17%, while Institutions and Non-Institutions held 28.03% and 28.80% respectively.
Ramkrishna Forgings has completed the acquisition of 100% Equity Shares of Resortes Libertad S.A. de C.V. an existing Mexican Company. Pursuant to the said acquisition, Resortes Libertad S.A. de C.V. has become a wholly owned subsidiary of the Company with effective from August 13, 2024.
The Company would set up machining facilities in Mexico, North America. The machines required to set up the facility and the forgings that needs to be machined will be supplied by the Customer in North America under the $3.5 million per annum conversion take or pay agreement for 10 years with the Customers.
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.
