PTC Industries Shares At Record After Supply Deal With Dassault Aviation
PTC industries shares rose as much as 10.0% to Rs 7,682.55 apiece, the highest level since its listing on Jun 9, 2023.
Shares of PTC Industries Ltd. surged 10% to a record high on Wednesday after its subsidiary Aerolloy Technologies Ltd. signed a multi-year pact with Dassault Aviation.
Aerolloy Technologies will start supplying titanium cast parts to Dassault Aviation, a global leader in manufacturing fighter aircrafts, for Rafale multirole fighter jets and the Falcon business jet program, according to an exchange filing.
PTC Industries' subsidiary will start supplying titanium cast parts from this year. The company didn't mention specific date.
Shares of PTC industries rose as much as 10% to Rs 7,682.55 apiece, the highest level since its listing on Jun 9, 2023. It pared gains to trade 2.61% lower at Rs 7,166.10 apiece as of 10:58 a.m. This compares to a 1.36% decline in the NSE Nifty 50 Index.
It has risen 135.75% in the seven months of its listing in June 2023. Total traded volume so far in the day stood at 3.8 times its 30-day average. The relative strength index was at 71.67, which implied the stock may be overbought.
