Ramkrishna Forgings stock rises on Rs 130 crore export order

Ramkrishna Forgings was trading at rupees 1,004, rose over 2 per cent

Ramkrishna Forgings stock surges over 2 per cent intraday on September 8 as the company bagged the export order worth rupees 130 crore.

 

Ramkrishna Forgings in an exchange filing has said that the firm has won an export order worth rupees 130 crore or 15 million Euro from an original equipment manufacturer (OEM) in a CIS country for the time period of 3 years

 

The stock was trading at rupees 1,004.50, rose upto rupees 25.80, or 2.64 per cent. The share price has touched an intraday high of rupees 1,023.95 and an intraday low of rupees 981.55.

 

The firm supplies to various sectors including automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining, both in India and in global markets.

 

Naresh Jalan, the Managing Director of the firm has said "With this order win we continue to strengthen our international business."

 

He said that it was first order for the firm from this OEM which is a testimony to their product quality and strong technical capabilities.

 

He added, "As a strategy, we are very focused on expanding our international business by entering newer geographies and this order win reinforces our confidence."

 

He further noted that as the festive season is round the corner and the recent upsurge in commercial vehicle sales in Indian market

 

He added that the company is anticipating to operate leverage to kickstart in leading to a strong performance for the year.

 

Ramkrishna Forgings Limited was founded in November, 1981 and is a critical safety item supplier for screw coupling, bolster suspension, side frame keys and draw gear assembly for rail coaches and wagon.

India Scanner News Network

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