Ramkrishna Forgings stock jumps 3% on winning Rs113 crore worth export order

31 Oct 2022 , 03:01 PM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products announced that a major Tier 1 manufacturer of Rear & Front axles has awarded a 4-year contract for the supply for heavy duty commercial vehicles for its European application worth Rs113.16 crore (Euro 13.8 million)

Commenting on the order win Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “Our European portfolio has grown even stronger as a result of this order win. Our most recent orders have come from Tier 1 international customers who have demonstrated their confidence in our ability to deliver quality products on time.

These order wins not only raise the profile of our international operations, but they also strengthen our long-term customer relationships. We are confident in our ability to capitalise on the opportunities that will arise as a result of these relationships and to expand our international business.”

At around 3:00 PM, Ramkrishna Forgings Ltd is currently trading at Rs229.95 per share up by Rs6.85 or 3.07% from its previous closing of Rs223.10 per share on the BSE.

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