Ramkrishna Forgings shines on bagging contract worth $220 million
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Ramkrishna Forgings is currently trading at Rs. 771.65, up by 10.85 points or 1.43% from its previous closing of Rs. 760.80 on the BSE.
The scrip opened at Rs. 766.75 and has touched a high and low of Rs. 774.35 and Rs. 765.00 respectively. So far 3249 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 814.95 on 01-Dec-2023 and a 52 week low of Rs. 244.75 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 786.45 and Rs. 701.65 respectively. The current market cap of the company is Rs. 13759.64 crore.
The promoters holding in the company stood at 43.14%, while Institutions and Non-Institutions held 27.21% and 29.65% respectively.
Ramkrishna Forgings has secured a contract worth $220 million. This contract spans over a decade and marks the company's foray into a new vertical within the forging sector, focusing on supplying Tier 1 customers in the Light Vehicle segment across North America.
The order win solidifies the company's position as a key player in the global market and underscores its commitment to innovation, quality, and customer satisfaction. With this venture, the company is poised to further expand its offering in key markets and contribute significantly to the automotive industry’s supply chain and aims to deliver top-notch products that meet and exceed the rigorous standards of the automotive industry.
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.
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