EURO 16 million contract: Multibagger railway forging company strengthens European OEM collaboration for differential components; stock hit 52-week high!
The stock gave multibagger returns of 130 per cent in just 6 months and over 230 per cent in 1 year.
Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products is pleased to announce the recent award of a significant business contract valued at EURO 16 million (approx. Rs 1,450 million). The contract, secured under a long-term agreement, spans a duration of 4 years and solidifies the company's position in the European Original Equipment Manufacturer (OEM) sector.
After supplying Front Axle Components to the same OEM for 5 years, the Company has been entrusted with the production of Differential components. This expansion is a testament to the Company's quality and reliability, and it will help them strengthen their presence in the European market. The Company is excited to venture into a new realm of automotive components and contribute to the efficiency and performance of vehicles in the region.
Commenting on the acquisition Mr. Lalit Kumar Khetan, Whole Time Director & CFO of Ramkrishna Forgings Limited said, "We are delighted to have been awarded this significant contract, which not only attests to the quality of our products but also demonstrates the trust that OEMs place in our capabilities. This accomplishment underscores our dedication to innovation, precision, and customer satisfaction. We look forward to further fortifying our presence in the European market.”
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On Thursday, shares of Ramkrishna Forgings zoomed 3.88 per cent to make a net 52-week high of Rs 617.90 per share from its previous closing of Rs 594.80. At the closing bell, shares of the company were trading at Rs 613.95 per share, up 3.10 per cent.
The stock gave multibagger returns of 130 per cent in just 6 months and over 230 per cent in 1 year. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.