Ramkrishna Forgings Jamshedpur Fabrication Plant receives approval from European OEM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has a commenced the serial production of heavy fabrications for the excavator parts at its plant VII. This plant is Fabrication facility which has been approved by one of the leading OEMs in the Mining & Earth Moving Industry based out of Europe.

Commenting on the approval Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limitedsaid: "The approval of fabrication facility at Jamshedpur is a step in right direction as we move to strengthen our presence in non-auto sectors. This approval will provide significant impetus to capacity utilization of this new plant and will add to revenues in coming years. The facility approval by a leading European OEM and subsequent commencement of serial production acts as a strong testimony for our state-of-the-art facility and reinforces our rational behind the capex decision. This order follows a recently won order from an Indian arm of Japanese construction equipment company. Increasing acceptance of our products by global majors across auto and non-auto sectors is an assertion of our product quality and technical expertise."

Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 1187.05 as compared to the previous close of Rs. 1209.05. The total number of shares traded during the day was 26913 in over 2220 trades.

The stock hit an intraday high of Rs. 1238.00 and intraday low of 1182.65. The net turnover during the day was Rs. 32380546.00.

Source : Equity Bulls

Keywords

RamkrishnaForgings INE399G01015 FabricationFacility EuropeanOEM Approval Mining EarthMoving