Rs 12,226.50 crore order: This small-cap company bags new orders from the Ministry of Railways!
The stock gained more than 4 per cent in the morning trade.
On April 6, 2023, Ramkrishna Forgings Limited informed in the exchange filing that the consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited (RKFL-TWL Consortium) has received the Letter of Award (LOA) dated 5 April 2023 from the Ministry of Railways, Government of India for the manufacturing and supply of forged wheels under long term agreement under Aatma Nirbhar Bharat.
The order involves manufacturing and supply of 15,40,000 forged wheels of different rolling stocks to the Ministry of Railways over a period of 20 years. The order is worth Rs 12,226.50 crore.
Shares of Ramkrishna Forgings Limited jumped from Rs 35.03 on April 09, 2020, to Rs 282.60 on, April 05, 2023, an increase of about 700 per cent in the three-year holding period. The company is a part S&P BSE SmallCap Index. The stock has given multibagger returns during the previous three years.
Today, the stock opened at Rs 290.20, with a high and low of Rs 296.85 and Rs 287.90. The stock has a 52-week high and low of Rs 296.85 and Rs 287.90, respectively on BSE.
Ramkrishna Forgings Ltd is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. The company caters to various industries which include automotive, earth moving and mining, farm equipment, general engineering, railways, steel plants and oil exploration.