Buzzing Stocks: These 2 stocks should be on your watchlist

Ramkrishna Forgings has recently announced that it has won the biggest domestic order worth Rs 72 crore from an Indian OEM (original equipment manufacturer) in the MHCV (medium and heavy commercial vehicle segment) segment, to be executed over four years.

Over the last eight quarters, the company has successfully built a robust and diverse customer base in India. They are now looking to strengthen their presence and gain further market share and this order will act as a booster to their growth story.

To quote Lalit Khetan, Executive Director and CFO of Ramkrishna Forgings from a filing with the exchange, “We are seeing an increase in interest in our products from a variety of customers, not just domestically, but globally as well, because of our quality and consistency. As a strategy, we will continue to increase content per vehicle by offering better products and adding new clients, resulting in higher capacity utilization and profitability in the future.”

Ramkrishna Forgings share price opened at Rs 975 on NSE and touched a high of Rs 984 in the morning session. At 11:06 AM the stock is trading flat at Rs 965.

RattanIndia Enterprises backed EV maker Revolt Motors has announced the further expansion of its retail presence in South India with the opening of its new store in Madurai, Tamil Nadu. This is the company’s first store in the city and it will be the 17th retail store across the country.

The Tamil Nadu government is offering state incentives to EV OEMs ranging from full reimbursement of state GST paid on vehicle sales to exemptions from electricity tax for manufacturing units and a 15-20 per cent subsidy on land cost. There’s also full exemption from motor vehicle taxes for Battery Electric Vehicles (BEVs) until 2022.

To quote an excerpt from the company’s filing with the exchange, “In order to fulfil the consumer demand, the company has plans to expand its sales network and strengthen retail presence further by entering 50+ new cities in India including Chandigarh, Lucknow & NCR by early 2022.”

The scrip of RattanIndia Enterprises touched an intra-day high of Rs 45.65 on NSE. At 11:25 AM the stock is trading in the green, up by 0.91 per cent at Rs 44.40.

Watch out for these 2 stocks in today’s session!