Stock Report

PTC Industries wins the prestigious Raksha Mantri's Excellence Award for Indigenisation at Defence Expo 2022

Posted On : 2022-10-31 22:43:54( TIMEZONE : IST )

PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality engineering metal components for various critical and super-critical applications, has been awarded the prestigious Raksha Mantri's Award 2022 (Raksha Shrijan Ratna) for Excellence in Indigenisation in the Defence and Aerospace Sector under the category of Medium Companies. This award was presented by the Honourable Defence Minister, Shri Rajnath Singh at the award ceremony held at Defence Expo 2022 to PTC Industries for the indigenisation of critical high precision titanium and higher alloy components for a wide range of applications across the Aerospace and Defence industry. With this award, PTC has been identified as a 'hidden gem' among private companies that will act as a role model for others in building an Aatmanirbhar Bharat and promoting the highest manufacturing standards in the country.

Speaking at this significant moment, Mr. Sachin Agarwal, Chairman & Managing Director, said: "It is a great honour for us to receive this prestigious award for the indigenisation of titanium castings with applications across a wide range of platforms and sub-systems in the Defence and Aerospace sector. The availability of these castings within the country will be a huge step for building a self-reliant ecosystem for the manufacture of key defence equipment, platforms, systems and sub-systems within the country. This is a great recognition of our efforts towards building manufacturing excellence and bringing the best technologies and capabilities to India."

The Raksha Mantri's Excellence Awards are an effort to boost to Government's 'Make in India' initiative, for achieving self-reliance in Defence manufacturing and reward excellence in the fields of Indigenization, Innovation and Exports by the Indian Defence Industries (both Private as well as DPSUs/PSUs). It also focuses on identifying 'hidden jewels' in the sector and promoting them as role models for others, highlighting exceptional national and international accomplishments to encourage exports. The platform aids to increase visibility in the defence and aerospace industries to be recognised more widely by domestic and foreign clients.

Shares of PTC Industries Ltd was last trading in BSE at Rs. 2953.85 as compared to the previous close of Rs. 2818.40. The total number of shares traded during the day was 15519 in over 443 trades.

The stock hit an intraday high of Rs. 2959.30 and intraday low of 2800.00. The net turnover during the day was Rs. 45652317.00.