Ramkrishna Forgings shines on inking pact with American axle manufacturer for light vehicle segment

Ramkrishna Forgings is currently trading at Rs. 831.35, up by 48.75 points or 6.23% from its previous closing of Rs. 782.60 on the BSE.

Ramkrishna Forgings
Ramkrishna Forgings

The scrip opened at Rs. 789.15 and has touched a high and low of Rs. 846.00 and Rs. 777.10 respectively. So far 38737 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1259.60 on 11-Oct-2021 and a 52 week low of Rs. 484.85 on 18-Mar-2021.

Last one week high and low of the scrip stood at Rs. 854.30 and Rs. 775.00 respectively. The current market cap of the company is Rs. 2661.91 crore.

The promoters holding in the company stood at 46.04%, while Institutions and Non-Institutions held 21.43% and 32.52% respectively.

Ramkrishna Forgings has entered into partnership with an American axle manufacturer for the light vehicle (LV) segment. A leading axle manufacturer in the USA has encouraged Ramkrishna Forgings for an estimated business of Rs 70 crore over a five-year period, wherein the products will be used in the rear axle applications.

This will help Ramkrishna strengthen its presence in the Light Commercial Vehicle segment and also help in improving its presence in the global market.

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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