Ramkrishna Forgings jumps 5% on bagging ₹270-crore order for Vande Bharat trains

Ramkrishna Forgings Ltd shares jumped over 5% on Monday, April 15, after the company announced securing a ₹270-crore order from the BHEL-TRSL consortium.

The order entails developing and validating the bogie frame for the sleeper version of the Vande Bharat train set, Ramkrishna Forgings said in a stock exchange filing. Ramkrishna Forgings called the work order a "pivotal moment" in its journey towards excellence in rail infrastructure development.

The order encompasses 32 train sets each consisting of 16 coaches. The company— a leading supplier of rolled, forged, and machined products— will be producing a total of 1024 bogie frames.

Commenting on the development, Ramkrishna Forgings' Whole Time Director and CFO Lalit Kumar Khetan said, "Securing this prestigious order is an indication to our relentless pursuit of excellence and innovative approach. Receiving this order underscores the company's dedication to providing top-notch solutions for the railway industry. We are honoured to support the Government’s 'Make in India' initiative and the advancement of rail transport in the country by leveraging our expertise in manufacturing high-quality bogie frames.”

Following the announcement, the stock gained as much as 5.1% to an intraday high of ₹724.1 apiece on the NSE. However, shares of Ramkrishna Forgings pared early gains to trade 4.75% higher at ₹721.65 apiece at 1:05 pm.

The company's share prices have increased over 135% in the past one year and 16.5% in the last one month.

Incorporated in 1981, Ramkrishna Forgings is among the leading manufacturers of forged products in India. The Kolkata headquartered company has an annual production capacity of 1,87,100 MT.

Apart from railways, Ramkrishna Forgings is a leading supplier to various sectors including automotive, farm equipment, bearings, oil and gas, power and construction, and earth moving and mining.

The company caters to various industries both in India and abroad. The company has a presence across 22 countries with strong footprints in North America and Europe.