Ramkrishna Forgings Shares Gain The Most In Three Weeks After Big Order Win
The consortium has received letter of award for order worth Rs 12,226.5 crore.
Shares of Ramkrishna Forgings Ltd. and Titagarh Wagons Ltd. rose the most in over three weeks after the consortium led by the company won an order from the Railways Ministry.
The consortium led by Ramkrishna Forgings received a letter of award for an order worth Rs 12,226.5 crore to manufacture and supply 15.4 lakh forged wheels of different rolling stocks to the Railways Ministry for over 20 years.
Shares of Ramkrishna Forgings rose 4.37% to Rs 294.95 apiece as of 9:53 a.m., compared to 0.15% decline in the benchmark NSE Nifty 50. The stock gained as much as 4.60% intraday, the most since March 15, 2023.
The total traded volume stood at 3.1 times its 30-day average. The relative strength index was 64.8.
Out of the seven analysts tracking the company, six maintain a 'buy' rating and one suggests a 'sell' on the stock, according to Bloomberg data.
The return potential, as calculated by the consensus of analyst estimates, stands at an upside of 13.9% over the next 12 months.
Shares of Titagarh Wagons Ltd. rose 1.33% to Rs 277.55 apiece, as of 9:53 a.m., compared to the decline in the benchmark NSE Nifty 50 by 0.15%.
The stock gained as much as 3.19% intraday, the most since April 4, 2023.
