Shares of Ramkrishna Forgings Ltd., the supplier of rolled, forged and machined products will be in focus on Monday after the order it received from the largest Electric Passenger Vehicle producer in the US last week was put on hold.
The company made this announcement in an exchange filing on Saturday night.
On April 18, the company had informed the exchanges that it had been granted approval for supply of power train components to the Largest Electric Passenger Vehicle Manufacturer, marking the beginning of a strategic partnership.Ramkrishna Forgings had said that the approval not only signified the company's debut in the US EV market, but also opened up new prospects.In an interaction with CNBC-TV18 post the approval, Naresh Jalan of Ramkrishna Forgings had said that the order win was for a period of eight years and that the company is keenly looking at opportunities from the EV space.Jalan also highlighted that the company may see 15% to 20% volume growth in financial year 2025, driven by non-auto segment and exports and that the revenue from the Electric Vehicles space will grow to double-digits from the current 4% in the next few years.Shares of Ramkrishna Forgings had rallied nearly 6% on Friday on the back of this order win.
The stock has risen 12% in the last four trading sessions, surging from levels of ₹688 to its Friday's close of ₹772.
The stock has risen 141% in the last 12 months.
Shares of Ramkrishna Forgings Ltd., the supplier of rolled, forged and machined products will be in focus on Monday after the order it received from the largest Electric Passenger Vehicle producer in the US last week was put on hold. The company made this announcement in an exchange filing on Saturday night. On April 18, the company had informed the exchanges that it had been granted approval for supply of power train components to the Largest Electric Passenger Vehicle Manufacturer, marking the beginning of a strategic partnership.Ramkrishna Forgings had said that the approval not only signified the company's debut in the US EV market, but also opened up new prospects.In an interaction with CNBC-TV18 post the approval, Naresh Jalan of Ramkrishna Forgings had said that the order win was for a period of eight years and that the company is keenly looking at opportunities from the EV space.Jalan also highlighted that the company may see 15% to 20% volume growth in financial year 2025, driven by non-auto segment and exports and that the revenue from the Electric Vehicles space will grow to double-digits from the current 4% in the next few years.Shares of Ramkrishna Forgings had rallied nearly 6% on Friday on the back of this order win. The stock has risen 12% in the last four trading sessions, surging from levels of ₹688 to its Friday's close of ₹772. The stock has risen 141% in the last 12 months.
