Multibagger stock update: This small-cap company renews its long-term contract with North American customer!
The stock has gained more than 40 per cent in the last six months.
On April 10, 2023, Ramkrishna Forgings Limited informed in the exchange filing that the company has successfully renewed the long-term contract with an additional new product range with an overseas tier 1 customer based in North America and the same is valid till December 31, 2027. This contract is in the normal course of the business.
Earlier, the company informed that the consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited has received the Letter of Award from the Ministry of Railways, Government of India for the manufacturing and supply of forged wheels under a long-term agreement under Aatma Nirbhar Bharat. The order was worth Rs 12,226.50 crore.
The stock has given multibagger returns during the previous three years. During this period, shares of Ramkrishna Forgings Limited jumped from Rs 35.03 on April 09, 2020, to Rs 282.60 on, April 05, 2023, an increase of about 700 per cent in the three-year holding period. The company is a part S&P BSE SmallCap Index.
Today, the stock opened at Rs 307.60, with a high and low of Rs 309.15 and Rs 305.65. The stock has a 52-week high and low of Rs 310.10 and Rs 145.50, respectively on BSE.
Ramkrishna Forgings Ltd is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts.