Ramkrishna Forgings Ltd bags order worth INR 650 million in Mining & Earthmoving segment

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won a non-auto segment order worth INR 650 million for supply of mining and earthmoving components from an Indian arm of Hitachi. This order will be supplied in FY22 and FY23.

Commenting on the order win Mr. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: "With this order win we are moving closer to our target of strengthening our non-auto business further. Mining and earthmoving sector is an important part of this diversification strategy. This order win is a testimony of our product quality and technology prowess as the equipments operates in tough environment and the components should be able to perform flawlessly under these conditions continuously. Looking at the current buoyancy in the sector, we expect not only to bag further repeat orders but also the order size to increase in the coming years."

Shares of ramkrishna forgings Ltd. was last trading in BSE at Rs. 1006.7 as compared to the previous close of Rs. 994.2. The total number of shares traded during the day was 36931 in over 750 trades.

The stock hit an intraday high of Rs. 1024.15 and intraday low of 970. The net turnover during the day was Rs. 36724060.

Source : Equity Bulls

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