A consortium of Ramkrishna Forgings Ltd (RKFL) and Titagarh Wagons Ltd (TWL) emerged as the L1 (lowest bidder) for the manufacture and supply of Forged Wheels under Aatma Nirbhar Bharat by the Ministry of Railways, as per the financial bid opening dated March 14, 2023. 

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According to an exchange filing, the companies will supply around 15,40,000 wheels over a period of 20 (twenty) years. The companies are yet to receive the letter of award, but they said that it will be submitted to the exchanges when it is received. 

The shares of Ramkrishna Forgings soared 9.60% on Wednesday’s early trades to reach a record high of ₹ 291.00 apiece. They were trading at ₹ 286.60 apiece at 11:38 AM. Meanwhile, the shares of TWL also gained 4.17% on the National Stock Exchange (NSE) to reach an intraday high of ₹ 251.00 apiece. Its shares were trading at ₹ 249.90 apiece at 11:40 AM. 

Multibagger returns 

RKFL has provided multibagger returns to its shareholders as its share price increased from ₹ 102.39 apiece to ₹ 286.60. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares two years ago, the value of their holdings would have been ₹ 2.80 lakhs today! 

Similarly, Titagarh Wagons’s share price has increased from ₹ 91.75 apiece to ₹249.90, giving multibagger returns of 172.37% in the past year. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares a year ago, the value of their holding would have been ₹ 2.72 lakhs today! 

About the companies 

Ramkrishna Forgings is engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. It is a small-cap company with a market capitalization of ₹ 4,239 crores. 

Titagarh Wagons is engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipment & bridges, ships and so on. It is a small-cap company with a market capitalization of ₹ 2881 crores. 

Written by Simran Bafna


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