Ramkrishna Forgings zooms 7% to 52-week high on Rs 12,226.5-crore order win

A consortium of Ramkrishna Forgings and Titagarh Rail have been awarded the contract to manufacture and supply 15,40,000 forged wheels for the Indian Railways

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Ramkrishna Forgings’ share price gained 7 percent to touch a 52-week high of Rs 440 on June 16 morning, after the company along with Titagarh Rail won a Rs 12,226.5-crore contract from the railways ministry.

A consortium of Ramkrishna Forgings Limited (RKFL) and Titagarh Rail Systems Limited (TRSL) has been awarded the contract to manufacture and supply 15,40,000 forged wheels over a span of 20 years as part of the Atmanirbhar Bharat Initiative by the railways ministry.

The consortium will deliver 40,000 forged wheels in the first year, 60,000 in the second year and 80,000 wheels every subsequent year, with the contract valued at Rs 12,226.5 crore.

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The RKFL-TRSL consortium will be set up a manufacturing facility to forge the wheels, with an annual production target of 2,00,000 when fully operational.

The project will require a capital expenditure ranging from Rs 1,000  to Rs 1,200 crore. Both companies will contribute equity on an equal basis, ensuring a robust funding structure to support the project’s capital expenditure needs, they has said.

At 10.19 am, Ramkrishna Forgings was trading at Rs 422.10 on NSE, up 3.35 percent from the previous close. Titagarh Wagons, which touched a 52-week high of Rs 430, was quoting at Rs 425.95, up 2.35 percent.

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