PTC Industries hits 52-week high on signing a new MoU; here's more

On Thursday, PTC Industries shares surged 7.38% to trade at its 52-week high of Rs 9538.75, from its previous closing of Rs 8,883.30 on the BSE.

Signing MoU with Hindustan Aeronautics

PTC Industries Ltd and Hindustan Aeronautics Ltd (HAL), Accessories Division, Lucknow a Navaratna Public Sector undertaking under the Ministry of Defence, Government of India, have signed a Memorandum of Understanding (MoU) for cooperation for Indigenization of various Aviation Grade Raw Materials (Titanium & Nickel Base Super Alloys, Special Steels), Components, Spares, Sub – assemblies & LRUs of Aircrafts & Helicopters being built by HAL.

The MoU will also ensure that with the individual strong capabilities of HAL, Lucknow and PTC Industries, a synergy can be created for the Indigenisation of various critical components, spares, sub-assemblies and LRUs for different Engines, Aircrafts & Helicopters programs of HAL in support of the ‘Make in India’ and ‘Atmanirbhar Bharat’ Programme.

The purpose of this collaboration of both the parties in this MoU is mainly to share the expertise & capabilities of both parties relating to the needs of the Aerospace Sector focusing Indigenization of spares, components, SRUs/ LRUs with a larger perspective of making India ATMANIRBHAR in Aerospace Sector.

Company profile

Incorporated in 1963, PTC Industries is engaged in the manufacturing of high-quality engineering components of steel and titanium castings for various critical and super-critical applications in the defence sector and medical equipment industry, among others. PTC has a wholly owned subsidiary, ATL, engaged in titanium castings manufacturing.

Stock price movement

Today, the stock opened at Rs 9,000 and has touched a high and low of Rs 9,538.75 and Rs 8,866.05 respectively. The BSE group ‘B’ stock of face value of Rs 10 has a 52-week high of Rs 9,538.75 and Rs 2,234, respectively. Last one week high and low of the scrip stood at Rs 9,538.75 and Rs 7,936.65, respectively. The current market cap of the company is Rs 12,784.77 crore.

The promoters holding in the company stood at 66.96%, while Institutions and Non-Institutions held 2.21% and 30.83% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.