PTC Industries Shares Up After Arm Gets Order To Supply Seven Aero-Engine Components
PTC Industries stock rose as much as 1.60% during the day to Rs 15,180 apiece on the NSE.
PTC Industries Ltd.'s share price rose on Friday by over 1% after its arm Aerolloy Technologies Ltd. received an order to supply seven aero-engine components from Safran Aircraft Engines.
This long-term purchase order entails the supply of seven cast aero-engine components, utilising both titanium and superalloys, for CFM's advanced LEAP-1A and LEAP-1B engines, according to an exchange filing.
The order reinforces ATL's expertise in producing complex, high-quality components for next-generation aero engines, it said.
As per the company, this collaboration positions Aerolloy Technologies as the only Indian company supplying cast components in titanium and superalloys to a world-class aircraft-engine manufacturer.
The LEAP engine series is renowned for its operational efficiency and reduced environmental footprint, aligning with the aviation industry's goals for sustainable development, it said.
Currently the company has over 370 LEAP powered aircraft in operation across India and more than 2,000 LEAP engines on order for Indian airlines, as per the filing.
"By expanding partnerships with key Indian suppliers such as this with Aerolloy Technologies, Safran is enhancing production capabilities for the LEAP engine in India, supporting the long-term growth of the domestic aviation sector and reinforcing its role in the global aerospace supply chain," the company said.
PTC Industries Share Price
PTC Industries stock rose as much as 1.60% during the day to Rs 15,180 apiece on the NSE. It pared gains to trade 1.22% higher at Rs 15,123 apiece, compared to a 0.57% decline in the benchmark Nifty 50 as of 2:00 p.m.
It has risen 106.08% in the last 12 months and 12.29% on a year-to-date basis. Total traded volume so far in the day stood at 0.01 times its 30-day average. Relative strength index was at 77.41.
Two analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. Average of 12-month analysts' price targets implies a potential upside of 31.6%.
