Shares of Ramkrishna Forgings, a supplier of rolled, forged, and machined products, were surging on Thursday after the company won a large contract from a Eurasian customer.

What Happened: the company said a substantial business contract valued at €17.2 million (around ₹156 crore) from a Eurasian customer within the farm equipment industry.

The contract spans four years, translating to an annual contract worth about €4.31 million (₹39 crore).

“We are committed to delivering products of the highest quality and contributing to the growth of the Eurasian Farm Equipment industry,” said Lalit Kumar Khetan, CFO of Ramkrishna Forgings.

Ace investor Akash Bhanshali holds a 2.53% stake in the firm, as per the latest shareholding data.

Price Action: Ramakrishna Forgings’ share price was up 3.46% at ₹674.55 in morning trade on Thursday.