Ramkrishna Forgings soars on baggng business contract worth around Rs 156 crore

Ramkrishna Forgings is currently trading at Rs. 668.05, up by 15.20 points or 2.33% from its previous closing of Rs. 652.85 on the BSE.

The scrip opened at Rs. 661.10 and has touched a high and low of Rs. 674.05 and Rs. 659.95 respectively. So far 7213 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 688.80 on 22-Aug-2023 and a 52 week low of Rs. 175.50 on 26-Sep-2022.

Last one week high and low of the scrip stood at Rs. 688.80 and Rs. 597.95 respectively. The current market cap of the company is Rs. 10442.72 crore.

The promoters holding in the company stood at 46.27%, while Institutions and Non-Institutions held 20.54% and 33.18% respectively.

Ramkrishna Forgings has secured business contract valued at 17.2 million euros (around Rs 156 crore) from a Eurasian customer in farm equipment’s industry. The contract extends over a period of 4 years, resulting in an annual contract valued at around 4.31 million euros.

Under the terms of this agreement, the Company will be supplying top-quality forged and machined components, catering specifically to Transmission and Engine parts. This partnership will extend over a span of 4 years, establishing a long-term association between the two entities.

The contract underscores the exceptional quality and reliability that the Company has consistently delivered to its clients in the farm equipment industry. This successful collaboration exemplifies the Company’s dedication to providing tailored solutions that meet the unique demands of its 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.

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