Ramkrishna Forgings hits new high

Ramkrishna Forgings is a stock in the limelight today morning. The stock, which had closed yesterday at Rs.594.80, opened higher at Rs.599.95 and soon rose to a new 52-week high at Rs.617.90.

The stock hit a new high after it announced receipt of an order worth Rs.145 crore from Europe.

This order, secured under a long-term agreement, spans a duration of 4 (four) years, and solidifies the company's position in the European Original Equipment Manufacturer (OEM) sector.

Having successfully served the same OEM for the past 5 (five) years by supplying Front Axle Components, the company has now been entrusted with the production and delivery of Differential components. This expansion into Rear Axle components opens up a new market for the company.