Friday , October 22 2021

Ramkrishna Forgings gains on winning non-auto segment order worth Rs 65 crore

Ramkrishna Forgings is currently trading at Rs. 1032.20, up by 16.15 points or 1.59% from its previous closing of Rs. 1016.05 on the BSE.

The scrip opened at Rs. 1034.00 and has touched a high and low of Rs. 1054.00 and Rs. 1020.20 respectively. So far 16050 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1100.00 on 06-Aug-2021 and a 52 week low of Rs. 255.00 on 22-Sep-2020.

Last one week high and low of the scrip stood at Rs. 1088.00 and Rs. 970.00 respectively. The current market cap of the company is Rs. 3306.09 crore.

The promoters holding in the company stood at 45.99%, while Institutions and Non-Institutions held 23.13% and 30.89% respectively.

Ramkrishna Forgings has won a non-auto segment order worth Rs 65.00 crore for supply of mining and earthmoving components from an Indian arm of Hitachi. This order will be supplied in FY22 and FY23. With this order win company is moving closer to target of strengthening non-auto business further. Mining and earthmoving sector is an important part of this diversification strategy.

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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