Over the past six months shares of the company have given a multibagger return of 110.61%, in the same time frame BSE Industrial has given a return of 35.40%.
PTC Industries Limited an Indian manufacturer of precision metal components hit the upper circuit today as it has joined hands with Safran Aircraft Engines. Both have entered into a multi-year contract to collaborate on the development of casting parts for the LEAP engine, which powers single-aisle jets. PTC Industries will manufacture titanium-casting parts for Safran Aircraft Engines, aligning with the Indian Government’s “Make in India” policy. The partnership aims to contribute to Safran Aircraft Engines’ goal of establishing a comprehensive aero engines ecosystem in India, enhancing its global supply chain for the LEAP production ramp-up.
PTC Industries, with expertise in advanced casting processes and precision machining, is set to deliver the first titanium casting parts for LEAP engines in early 2024. The collaboration reflects a strategic move for Safran Aircraft Engines, expanding its global supply chain with PTC Industries and aligning with its commitment to the “Make in India” initiative.
In the last trading session, the stock closed at Rs 4,708.80. Today, it opened at Rs 4,675 and got locked in the upper circuit at Rs 4,944.20, up by 5%. It has a 52-week high at Rs 6,334.35 while its 52-week low stands at Rs 2,234. The company currently boasts a market capitalization of approximately Rs 6,700 crore. Over the past six months shares of the company have given a multibagger return of 110.61%, in the same time frame BSE Industrial has given a return of 35.40%.
Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defence and space markets. Safran Aircraft Engines designs, produces, and sells, alone or in partnership, commercial and military aircraft engines. Through CFM International, Safran Aircraft Engines is the world’s leading supplier of engines for short and medium-haul commercial jets.
PTC Industries Limited through its wholly owned subsidiary Aerolloy Technologies Limited, the company is manufacturing and supplying Titanium and Superalloy castings for Aerospace and Defence applications within India as well as for exports. The company is substantially expanding its Aerospace castings capability by making a multi-million-dollar investment in a new manufacturing facility at the newly acquired 50 acres of land in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor. This facility will be fully vertically integrated with a Titanium and Superalloy Mill, producing aerospace-grade ingots, billets, bars, plates and sheets in these critical and strategic materials.
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