Shares of PTC Industries locked in a 10% high in intraday trade on Friday to close at Rs 2,832.95 after the company’s wholly-owned subsidiary Aerolloy Technologies (ATL) received an order from Safran Aircraft Engines (SAE). Development and supply of titanium castings for aircraft engines.

According to management, this is the first time SAE has developed and sourced titanium castings from India for its aero-engines.

Shares of PTC Industries have risen 16% over the past three sessions. It has gained 45% over the past six months, compared with a 1% gain for the S&P BSE Sensex.

ATL manufactures strategic and critical materials and high-integrity metal components for a variety of vital and supercritical applications in aerospace. PTC Industries is one of the world’s leading suppliers of high-precision metal components for critical and supercritical operations in various fields, including aerospace, defence and industrial.

SAE is a French aerospace engine manufacturer based in Courcouron, a Safran subsidiary that designs, develops, manufactures and maintains commercial and military aircraft engines. It also provides on-site maintenance, repair, training and consulting services.

SAE is one of the oldest engine manufacturers, one of the largest, and the world’s leading manufacturer of mainline commercial jet engines. The company’s products, either alone or in partnership, include Dassault Rafale’s M88 engine, Concorde’s Olympus 593, CFM56/CFM-LEAP for single-aisle airliners and the Ariane 5’s Vulcain engine.

Meanwhile, on February 15, PTC Industries and Hindustan Aeronautics Limited – SED, Koraput signed a Memorandum of Understanding (MoU) to explore mutual cooperation and business development opportunities for localisation aerospace-grade raw materials, components, subsystems and systems of aero engines for aircraft of Russian origin.