300 per cent return in 2 years: The stock has given a maultibagger return of 302 per cent in two years and 575 per cent in three years.
Shares of engineering component manufacturer PTC Industries will be in focus on Thursday as the company has shared its plans related to the new aerospace castings facility. The counter had closed at Rs 10,163.25 on the BSE in the last trading session – a fall of 0.72 per cent from the previous close.
The company said that it is planning to set up a new aerospace castings facility in Lucknow. According to information shared with exchanges, the facility will be spread over an area of 25,000 square meters at the new 50-acre land in Lucknow in the Uttar Pradesh Defence Industrial Corridor.
The company has also shared details about the electron beam cold hearth remelting (EBCHR) which is under installation. For the uninitiated, EBCHR has emerged as a new melting technology and is increasingly applied to the production of remelt stock for investment casting.
According to PTC Industries, a constituent of BSE 500, the top structure work has been initiated.
“Melt chamber and melt chamber lock valve assembly, along with the ingot chamber lock valve has been completed successfully and aligned,” the company said.
PTC Industries share price history
The stock has given a maultibagger return of 302 per cent in two years and 575 per cent in three years. However, it gave a negative return of 23 per cent in six months. The stock has fallen 5.28 per cent in the last 1 week.
The stock of the company, with a market cap of Rs 15,228.74, has a 52-week high and low of Rs 17,978 and Rs 7,025 respectively.
PTC Industries Q3 results
Meanwhile, the company posted a Rs 14.2 crore net profit in the December quarter, aided by higher income.
It had posted Rs 8 crore net profit a year earlier, the company said in an exchange filing. The company’s total income rose to Rs 77.1 crore from Rs 59 crore in the year-ago quarter.
During the quarter, it acquired 100 per cent ownership of Trac Holdings, which owns Trac Precision Solutions — a UK-based company specialising in precision-machined components for the aerospace, defence, and power generation sectors.
With PTI inputs
