Shares of Ramkrishna Forgings, jumped nearly 4% in intra-day trade on August 17 to reach all-time high of Rs 617.95 after the company bagged a long-term contract worth nearly Rs 145 crore in the European Original Equipment Manufacturer (OEM) sector.
“This expansion into Rear Axle components stands as a testament to the Company’s quality and reliability in the eyes of the OEM, paving the way for further collaboration and growth in their partnership, also enhancing the Company’s presence in the European market,” said Ramkrishna Forgings.
Ramkrishna Forgings’ stock performance
Ramkrishna Forgings’ market capitalization stands at Rs 9.83k crore. The P/E ratio is 36.01, and the dividend yield is 0.32%. The shares have shown continuous growth over the past year, with the stock price increasing by 6.19% in the last 5 days, 27.30% in the last month,125.52% in the last 6 months, and a whopping 226.50% in the last one year.
Ramkrishna Forgings reported a 63% increase in its net profit at Rs 76.97 crore in Q1FY24, driven by higher income. It had achieved a net profit of Rs 47.26 crore in the April-June period of the preceding fiscal year, 2022-23. The company’s total income also surged to Rs 835.95 crore from Rs 650.75 crore in the same quarter of the previous year, marking a 28% rise.