Watch Our Live Call Update: RBI hikes FPIs investment in Ramkrishna Forgings to 49%:- 09 Aug, 2017

Thursday 10 August 2017

RBI hikes FPIs investment in Ramkrishna Forgings to 49%:- 09 Aug, 2017


Ramkrishna Forgings of soared over 4% during the early morning trade on Wednesday. It was trading at Rs 570.60 per share, up by Rs 20.40 or 3.71% as at 1012 hours on the BSE.

The Reserve Bank of India (RBI) post market hours on Tuesday, notified that the foreign institutional investors (FIIs), foreign portfolios investors (FPIs) investment limit under portfolio investment scheme in Ramkrishna Forgings has increased from 24% to 49% of its paid-up capital.

Ramkrishna Forgings  of soared over 4% during the early morning trade on Wednesday. It was trading at Rs 570.60 per share, up by Rs 20.40 or 3.71% as at 1012 hours on the BSE. The stock hit its intraday high and low of Rs 574.40 and Rs 554.75 respectively.

It attracted a traded volume of 16,303 shares and traded value of Rs 92.07 lakh on the NSE.

Ramkrishna Forgings is engaged in the manufacturing of forgings. The company is operating in Forgings, and Tours & Travels segments. The company supplies its products to various sectors, such as domestic and overseas markets. 

Stock View:

Ramkrishna Forgings Ltd is currently trading at Rs 549.75, down by Rs 0.45 or 0.08% from its previous closing of Rs 550.2 on the BSE.

The scrip opened at Rs 556.35 and has touched a high and low of Rs 574.4 and Rs 549.75 respectively. So far 30410(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1793.18 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 583.15 on 02-Aug-2017 and a 52 week low of Rs 256.25 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 583.15 and Rs 541.05 respectively.

The promoters holding in the company stood at 44.35 % while Institutions and Non-Institutions held 32.91 % and 22.75 % respectively.

The stock is currently trading above its 50 DMA.

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