The focus of most investors today, Thursday, August 17, 2023, seems to be on Ramakrishna Forgings’ stock. Currently, the shares of this company are witnessing a roughly 3% surge around 11 AM. Earlier, the share price opened at ₹598 in the morning market.
The remarkable surge in Ramakrishna Forgings’ share price is attributed to a substantial order valued at ₹145 crore that the company has recently received. This significant order has been secured from a European original equipment manufacturer (OEM).
The company has indicated that it has received an order worth 16 million euros (approximately ₹145 crore) for the next 4 years. To provide context, Ramakrishna Forgings is engaged in the supply of rolled, machined, and forged products.
Furthermore, it has been revealed by Ramakrishna Forgings that after successfully supplying only one OEM with front axle components over the last 5 years, the company has now secured orders for differential components and distribution. Following this order in the European market, the company’s presence is expected to strengthen further.
In terms of recent performance, Ramakrishna Forgings Limited’s shares have experienced a surge of over 26% in the past month alone. Over the last 6 months, the shares have yielded a multibagger return of 124% for its investors.
Year-to-date (YTD), the shares have exhibited an impressive surge of nearly 131%. Over the past year, the shares have seen a remarkable gain of 224%, while the last 5 years have brought about a substantial rise of almost 390% in the share price. The 52-week high price of the shares stands at ₹617.95, with the low price at ₹175.75.
(Note: The information provided is based on the context given and the mentioned company’s stock performance at the time of the conversation.)