Ramkrishna Forgings shares jump 8%, hit 52-week high on Rs 12,226 crore order win

Ramkrishna Forgings’ stock price rose 8% to reach a 52-week high of INR 440 on BSE after the company and Titagarh Rail Systems consortium secured a contract for INR 12,226.5 crore. Under the Atmanirbhar Bharat Initiative, the companies will deliver 15.4 lakh forged wheels over 20 years, with the expectation of manufacturing 2,00,000 wheels annually. The wheels will cater to the needs of the LHB coaches, Vande Bharat Express Trains, WAG9 Locomotives and others. To meet this financial requirement, both companies will contribute equity on an equal basis, ensuring a robust funding structure to support the project’s capital expenditure needs.