A leading Axle manufacturer in the USA has encouraged Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products for an estimated business of Rs. 700 Millions over a 5-year period, wherein the products will be used in the Rear Axle applications.
Commenting on the expected order Mr. Milesh Gandhi, Vice President. (Marketing), Ramkrishna Forgings Limited said: "It gives us great pleasure to announce that a major US axle manufacturer has expressed strong support for our LV business. This significant recognition of our project in Rear Axle applications will help us to promote continued export revenue growth. Our ongoing efforts to expand in the global market have assisted us in increasing our export sales and improving our relationships with global customers. The order win in future will give us an estimated business of Rs. 700 Million over a period of 5 years. This will help us strengthen our presence in the Light Commercial Vehicle segment and also help in improving our presence in the global market."
Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 782.60 as compared to the previous close of Rs. 829.45. The total number of shares traded during the day was 26752 in over 2654 trades.
The stock hit an intraday high of Rs. 827.00 and intraday low of 775.00. The net turnover during the day was Rs. 21317633.00.