Multibagger from its 52-week low: This railway forging company secures prestigious order worth EURO 4.5 million from European Railway!
The stock gave multibagger returns of 175 per cent in just 1 year whereas BSE small-Cap Index is up by 27.71 per cent.
Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products, is pleased to announce that it has successfully received an order to supply undercarriage parts to a renowned European Railway Passenger Coach manufacturer. The contract is valued at EURO 4.5 million and is set to be fulfilled within a span of two years.
This order is from a prominent European Railway Passenger Coach manufacturer and is a testament to the Company's dedication to excellence in the field of fabrication. The successful acquisition of this order not only signifies the trust placed in the company’s capabilities but also serves as a significant boost to revenues from the fabrication vertical. The order will also create additional opportunities for the Company to expand its footprint in European Railway.
On Wednesday, shares of Ramkrishna Forgings zoomed 4.23 per cent to make a new 52-week high of Rs 429 per share from its previous closing of Rs 411.60. The stock gave multibagger returns of 195 per cent from its 52-week low of Rs 145.50 per share.
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Talking about the financials, Ramkrishna Forgings Limited has a market cap of Rs 6,740 crore. The company reported positive numbers in its Quarterly Results (Q4FY23) and annual results (FY23). The net sales increased by 37.68 per cent and the net profit increased by 25.25 per cent in FY23 over FY22. The EPS for FY23 stood at Rs 15.48.
The stock gave multibagger returns of 175 per cent in just 1 year whereas BSE small-Cap Index is up by 27.71 per cent. Investors should keep an eye on this railway forging stock under the radar.