Ramkrishna Forgings shares surge 5% on $220 million North American contract

Ramkrishna Forgings witnessed a significant surge in its share price, gaining 5 percent intraday on February 20, following the announcement of securing a lucrative contract worth $220 million in the North American market. As of 12:00 pm, the shares were trading at ₹764.45.

The company revealed that this contract, spanning over a decade, marks its entry into a new vertical within the forging sector. It will primarily focus on supplying Tier 1 customers in the Light Vehicle segment across North America, according to a company statement.

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The order win not only consolidates Ramkrishna Forgings’s position as a key player in the global market but also highlights its dedication to innovation, quality, and customer satisfaction, emphasized the release.

With this strategic venture, the company aims to further expand its offerings in key markets, making significant contributions to the automotive industry’s supply chain. Ramkrishna Forgings is committed to delivering top-notch products that not only meet but exceed the rigorous standards set by the automotive industry, the statement added.