Shares of Ramkrishna Forgings punched a new 52-week high of Rs 617.95 on 17 August after the company secured a contract worth Rs 145 crore.

Ramkrishna Forgings has bagged a business contract valued at Rs 1,450 crore under a 4-year agreement to produce and supply rear axle and transmission components for Class 5,6 and 7 vehicles.

The company reported a strong June quarter for the current fiscal year with a 63% YoY increase in its net profit at Rs 76.97 crore, whereas the revenue from operations increased 28% YoY to Rs 835.95 crore for the same period.

Before this contract, on 14 August, the company received an order worth Rs 107 crore from its clients in the North American region for the supply of rear axle and transmission components.

In July 2023, the company took over Multitech Auto Pvt Ltd and its wholly-owned subsidiary Mal Metalliks Private Limited, for Rs 205 crore. The company manufactures various parts of automobiles like shift cylinders, top covers, differential cases, differential covers, assembly gear, and different types of hubs, among others.

At 12:05 pm, the shares of Ramkrishna Forgings were trading at Rs 612 or 2.78% above its previous close on NSE.