Ramkrishna Forgings Limited witnessed a 5 per cent surge in its share price following the board of directors’ approval for the acquisition Multitech Auto Private Limited and its wholly owned subsidiary Mal Metallics Private Limited.
The acquisition is meant to enable the company to expand its product line, including machined SG and CI castings, and a draw facility. The purchase of Mal Auto Products Private Limited is expected to help achieve a targeted turnover of Rs 500–600 crore within two years.
The shares rose to Rs 547 at 10:09 am on BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.