Ramkrishna Forgings is doing well today morning; the stock which had closed yesterday at Rs.411.60, it opened today at Rs.417, it went on to hit a new 52-week high at Rs.429.
The stock hit a new high after the company announced that it has received an order to supply undercarriage parts to a renowned European Railway Passenger Coach manufacturer.
The contract is valued at Euro’s 4.5 million and is set to be fulfilled within a span of two years. This order is from a prominent European Railway Passenger Coach manufacturer.
The successful acquisition of this order not only signifies the trust placed in the company’s capabilities but also serves as a significant boost to revenues from the fabrication vertical. The order will also create additional opportunities for the Company to expand its footprint in European Railway.