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Ramkrishna Forgings share rises over 4% after firm wins Rs 130-crore export order

Ramkrishna Forgings share rises over 4% after firm wins Rs 130-crore export order

The stock touched an intraday high of Rs 1023.95, 4.62% higher on BSE

Ramkrishna Forgings stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Ramkrishna Forgings stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Share of Ramkrishna Forgings rose over 4% today after the firm won an export order worth Rs 130 crore (Euro 15 million) from an OEM (original equipment manufacturer) in a CIS (Commonwealth of Independent States) country for a period of three years.

The stock touched an intraday high of Rs 1023.95, 4.62% higher on BSE.

Ramkrishna Forgings stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 322% in one year and risen 107.43% since the beginning of this year.

Total 0.23 lakh shares changed hands amounting to turnover of Rs 2.28 crore on BSE. Market cap of the firm stood at Rs 3,172 crore on BSE.

The stock opened at Rs 981.55 against previous close of Rs 978.70 on BSE.

The firm is one of the leading suppliers of rolled, forged and machined products. CIS comprises nine member countries namely - Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, and Uzbekistan.

The company, however, did not mention the name of the OEM it won the contract from.

Commenting on the order win Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said, "With this order win we continue to strengthen our international business. This is our first order from this OEM which is a testimony to our product quality and strong technical capabilities."

Ramakrishna Forgings posted a consolidated profit after tax (PAT) of Rs 24.68 crore in Q1FY22. The company's total income stood at Rs 417.68 crore during the period ended June 30, 2021, as compared to Rs 522.80 crore during the period ended March 31, 2021.