Shares of RK Forgings were in the green on Monday morning even as broader market was crashing.
What Happened: The stock is upbeat today as the company announced bagging an order for the
Vande Bharat Train Set. “This order, valued at ₹270 crores, is to be supplied to the BHEL-TRSL consortium,” the company added in a press release.
The project is for the development and validation of the Bogie Frame for the sleeper version of the Vande Bharat Trainset. This order includes 32 train sets, with each set consisting of 16 coaches. As a result, RKFL will be manufacturing a total of 1,024 bogie frames.
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The order helped the stock jump back in the green even as several other rail infra stocks such as RVNL, Titagarh, and IRCON were in the red. Shares of the company have had a strong bull over the past year, going up over 120%.
The stock counts ace investor Akash Bhanshali as a shareholder. Nomura India Investment Fund and BofA Securities are also invested in the stock.
Price Action: RK Forgings’ share price was up 2.41% to trade at ₹705.50 in early trade on Monday.
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