Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won a significant order from Indian Railways for the manufacturing of Loco Shells which will be supplied from new Fabrication unit in Jamshedpur.
Commenting on the approval Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: "This order win is another feather in the cap for Ramkrishna Forgings, as this will widen our products offerings and enabled us to make further in-roads with Indian Railways. The Loco shells market is estimated to be close to Rs. 1,000 crores and our aim is to garner a strong market share. This order also signifies our strong product development capability and client centric approach. The client's trust in our technical capabilities has received a big boost with this order as are already manufacturing bogie components for LHB coaches and Train 18. Our strategy to diversify into non-auto segment with a special focus on railways sector has once again been substantiated with this order. This order will also help us to improve our capacity utilization for our new fabrication unit in Jamshedpur which inturn will lead to better operating and financial performance in coming years."
Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 1163.40 as compared to the previous close of Rs. 1187.05. The total number of shares traded during the day was 29277 in over 2286 trades.
The stock hit an intraday high of Rs. 1209.60 and intraday low of 1158.00. The net turnover during the day was Rs. 34695358.00.