PTC Industries witnessed a notable upswing in its shares, hitting the 5 percent upper circuit in early trade on November 15. This surge follows the company’s announcement of a significant multi-year contract with Safran Aircraft Engines, focusing on the development of industrial cooperation for LEAP engines casting parts.
As of 12:50 pm, PTC Industries’ stock was trading at ₹5,178.60, reflecting a 5 percent increase on the NSE. The positive momentum was evident with pending buy orders for 149 shares, while no sellers were available in the market.
The terms of the contract entail PTC Industries taking on the production of titanium-casting parts crucial for Safran Aircraft Engines. This collaboration signifies a strategic move for PTC Industries, positioning itself for growth and innovation in the aerospace sector.