PTC Industries: Costliest defence stock! Share price above Rs 14000; do you own?
ptc industries: costliest defence stock! share price above rs 14000; do you own?
PTC Industries Share Price, Defence Stock: PTC Industries, one of costliest stocks in India, today gained as the company announced achieving a major milestone in cutting edge casting technology. The stock opened in the green at Rs 13,949.95 against the previous close of Rs 13,742.30.
A strong buying was seen in the stock as it hit an intraday high of Rs 14,598.90, up 6.23 per cent.
PTC Industries shares are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
PTC Industries News
The company has announced through a filing that its wholly owned subsidiary Aerolloy Technologies has developed the most advanced casting technology for manufacturing Single Crystal and Directionally Solidified blades and vanes for Aero-engine and Industrial Gas Turbine applications.
The firm has setup the manufacturing capability at its Lucknow facility. The technological know-how makes PTC the only company to have this capability in India and amongst very few in the world.
"This technology till now has been kept very closely guarded and access to this technology has remained restricted for any country in the developing world. Creation of this indigenous capability by the company is a of major milestone for the company in achieving its overarching objective (Dharma) – to achieve Parity," it said in a statement.
"This capability and its related infrastructure will enable the company to produce Airfoils (blades and vanes) with complex internal hollow cooling passages while having highly specialized microstructures like Single Crystal or Directionally Solidified," it added.
PTC Industries Share Price History
PTC Industries is a constituent of BSE SmallCap index. According to BSE analytics as on July 1, the smallcap stock has rallied a whopping 66 per cent in the last one month and 110 per cent in 2024 so far. In one year, the stock has sprinted 203 per cent.
The defence stock has made its investors wealthier by 856 per cent in the last two years and 1,522 per cent in three years. The stock has skyrocketed an impressive 8,590 per cent in the last five years.
PTC Industries is engaged in the manufacturing of aerospace castings, industrial castings, and titanium and vacuum melt alloy castings. It also focuses on powder metallurgy, and precision computer numerical control (CNC) machining.