PTC Industries jumps on signing agreement with BAE Systems

PTC Industries is currently trading at Rs. 2959.30, up by 140.90 points or 5.00% from its previous closing of Rs. 2818.40 on the BSE.

PTC Industries
PTC Industries

The scrip opened at Rs. 2900.00 and has touched a high and low of Rs. 2959.30 and Rs. 2825.00 respectively. So far 2671 shares were traded on the counter.

The BSE group ‘T’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2,959.30 on 31-Oct-2022 and a 52 week low of Rs. 1,022.57 on 29-Oct-2021.

Last one week high and low of the scrip stood at Rs. 2959.30 and Rs. 2700.00 respectively. The current market cap of the company is Rs. 3691.44 crore.

The promoters holding in the company stood at 67.80%, while Non-Institutions held 32.20% stake in the company.

PTC Industries has signed an agreement with BAE Systems at the recent DefExpo 2022 held in Gandhinagar, Gujarat to manufacture titanium castings for the Indian 155mm M777 Ultra-Lightweight Howitzer (ULH) at PTC Industries’ production facility in Lucknow, Uttar Pradesh, India.

The first sub-systems will be produced by the end of 2022, and there is a plan to progress manufacture of all three of the major structures (Saddle, Cradle, and Lower Carriage) that form the basis of the gun. As a result of its participation in the M777 programme, PTC will also be able to support the global supply chain of BAE Systems.

PTC Industries is supplier and manufacturer of earth moving machine equipments, fork, machine tools, pump, spare parts -valves & pumps. It is exporter of stainless steel casting and non ferrous alloy.

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