Ramkrishna Forgings Shares Surges on ₹270 Crore Vande Bharat Train Set Orders

15 Apr 2024 , 01:13 PM

Ramkrishna Forgings Ltd. witnessed a 3% surge in its shares on April 15 after securing orders worth ₹270 Crore for Vande Bharat train sets.

The order, to be supplied to the BHEL-Titagarh consortium, entails the development and validation of Bogie Frames for the sleeper version of the Vande Bharat train set.

Ramkrishna Forgings will produce a total of 1024 bogie frames for 32 train sets, each comprising 16 coaches, showcasing its capability in handling large-scale manufacturing requirements.

Lalit Kumar Khetan, Whole Time Director and CFO of Ramkrishna Forgings Ltd., expressed the company’s commitment to excellence and innovation, highlighting its support for the ‘Make in India’ initiative.

The company’s MD Naresh Jalan anticipates sustaining demand in both domestic and export markets, aiming for ₹5,000 Crore in revenue by the fiscal year 2024-25.

The stock of Ramkrishna Forgings was trading 3.41% higher at ₹713.25 apiece on the NSE at the time of writing, marking a 125% increase over the last 12 months.

Ramkrishna Forgings was established in 1981 and currently boasts an annualized installed capacity of 187,100 metric tons. Headquartered in Kolkata, Ramkrishna Forgings operates state-of-the-art manufacturing facilities in Jamshedpur.

Additionally, the company has established offices in various international locations, including Detroit (USA), Toluca (Mexico), Monterrey (Mexico), and Istanbul (Turkey). Ramkrishna Forgings also maintains warehousing facilities in Hagerstown, Louisville, and Detroit (USA), Toluca and Monterrey (Mexico), and Westerloo (Belgium).

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