PTC Industries jumps 10% on signing agreement with France-based Dassault Aviation

PTC Industries stock jumped 10 percent in trade on January 17 after the firm’s arm signed an agreement with France-based Dassault Aviation for supply of titanium casting parts.

As of 1.45 pm, shares of PTC Industries were trading at Rs 7,230.8, higher by 3.5 percent on the NSE compared to the previous session’s closing price.

Aerolloy Technologies, a subsidiary of PTC Industries, will produce the full range of Titanium castings parts for the Rafale multirole fighter aircraft and the Falcon business jet programme.

Earlier in January, PTC Industries declared that its board has given the green light to a strategy aimed at raising funds up to Rs 141.24 crore. This will be achieved through a preferential issue of fully paid-up equity shares, involving the issuance of a maximum of 2.3 lakh equity shares at an issue price of Rs 6,000 per share.

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PTC Industries is a manufacturer of precision metal components for critical applications for over 60 years. Through its wholly owned subsidiary Aerolloy Technologies, the company is manufacturing and supplying titanium and superalloy castings for aerospace and defence applications within India as well as for exports.

Over the past six months, the share price surged around 80 percent. In comparison, the benchmark Nifty 50 has risen about 10 percent during the same time period.

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