The stocks of Ramkrishna Forgings (RKFL) and Titagarh Rail Systems (TRSL) have been in focus today after the consortium between the two companies received an order to manufacture and supply 1.54 million forged wheels from the Ministry of Railways under the “Aatma Nirbhar Bharat” initiative.
The contract mentions a supply structure that involves the delivery of 40,000 forged wheels in the first year, 60,000 wheels during the second year, and 80,000 wheels each for every subsequent year thereafter. The total contract is valued at Rs 12,226.5 crores. The supply is said to be made over a period of 20 years.
The consortium plans to establish a state-of-the-art facility in order to manufacture the contracted forged wheels. The same will not only aid to address the demand of the domestic railway sector but also assists in the latent demand to be observed from the private players as well as for the export markets.
Ramkrishna Forgings Limited is a company based in India that is engaged in the process of manufacturing forgings as well as the production of metal products.
The company’s shares witnessed intra-day high levels of Rs 439.90, which is also marked as the stock’s 52-week high price, indicating an 8 percent increase as compared to the previous closing levels of Rs 408.40.
Titagarh Rail Systems Limited, formerly Titagarh Wagons Limited, is engaged in the business of manufacturing and selling metro trains, passenger coaches, train electricals, etc.
The company’s shares witnessed intra-day high levels of Rs 434.40, which is also marked as the stock’s 52-week high price, indicating a 4.40 percent increase as compared to the previous closing levels of Rs 416.15.
Written by Amit Madnani
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