Heavy buying: Do you own this multibagger that delivered over 132 per cent returns in just one year?

The company announced that it has signed a Memorandum of Understanding (MoU) with Safran Aircraft Engines to explore opportunities for strategic business cooperation

On Wednesday, shares of PTC Industries surged 4 per cent to make an intraday high of Rs 2900 from the previous close level of Rs 2788.30. The scrip witnessed a massive spurt in volume by more than 2.01 times. 

The company announced that it has signed a Memorandum of Understanding (MoU) with Safran Aircraft Engines to explore opportunities for strategic business cooperation and support the development of a robust defence and civil Aerospace ecosystem and supply chain in India.  

As part of the MoU, the two organisations will: 

• Explore manufacturing and supply of titanium and super alloy castings and components by PTC (through its wholly owned subsidiary, Aerolloy Technologies) for the LEAP engines, for civil aircraft engine applications. 
• Explore manufacturing and supply of Titanium and Super Alloy castings and components by PTC (through its wholly owned subsidiary, Aerolloy Technologies) for the M88 engines, for military aircraft engine applications. 
• Any other business opportunities that may be mutually agreed upon, potentially in the field of military and/or civil aircraft engines. 

   

PTC Industries Limited is a manufacturer of high-quality engineering components for various critical and super-critical applications. The company manufactures products for a wide spectrum of industrial applications including that for oil and gas and Liquified Natural Gas (LNG), offshore and marine, mining and other engineering and capital goods industries.  

Shares of PTC industries have skyrocketed with the company giving 139.59 per cent returns in the past year. PTC Industries is the only company in the country having the requisite technology, know-how, and infrastructure to service the requirements for critical cast components for these applications.  

Keep a close eye on this trending multibagger stock.