Ramkrishna Forgings soars on inking consultancy agreement with McKinsey
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Ramkrishna Forgings is currently trading at Rs. 793.10, up by 11.15 points or 1.43% from its previous closing of Rs. 781.95 on the BSE.
The scrip opened at Rs. 775.00 and has touched a high and low of Rs. 805.00 and Rs. 765.00 respectively. So far 16123 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. 805.00 and Rs. 707.25 respectively. The current market cap of the company is Rs. 14369.13 crore.
The promoters holding in the company stood at 47.41%, while Institutions and Non-Institutions held 21.86% and 30.72% respectively.
Ramkrishna Forgings has entered into a transformative consultancy agreement with McKinsey, a global management consulting firm. This partnership marks a significant milestone for the Company, signaling its commitment to elevating operational efficiency and sustaining long-term growth.
Under this consultancy agreement, McKinsey will spearhead a comprehensive 15-month transformation program that spans across crucial facets of the Company's operations. The focus areas include Manufacturing, Logistics, Procurement, Manpower, Inventory, Pricing, and more. The strategic collaboration aims to streamline processes, enhance capabilities, and implement cutting-edge digital systems to ensure sustained success and drive margin improvement.
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.
