PTC Industries’ share price would be under the radar of stock market observers as the company has received a significant production order from BAE Systems. The multibagger stock that has delivered around 130% return to its shareholders in one year informed us about the order book update in an exchange filing on Friday at noon.
After announcing a fresh order update, PTC Industries shares surged 5% and hit the upper circuit. Knowing how the multibagger stock trades on Monday would be interesting, as the market may not have wholly discounted the news.
PTC Industries stated in an order book update, “PTC Industries Limited, a leading manufacturer of high-quality engineering metal components, is pleased to announce that it has received a significant production order from BAE Systems for the supply of Titanium castings for the M777 Ultra-Lightweight Howitzer (ULH), including Spade Trails and Blades.” PTC Industries spent the last two years developing Titanium castings for the M777 ULH.
This order marks a major milestone in PTC Industries’ continuous collaboration with BAE Systems and highlights the company’s technological expertise in supplying mission-critical components for such advanced defense platforms.
Regarding the development, Sachin Agarwal, Chairman & Managing Director of PTC Industries, said: “We are thrilled to receive this serial production order from BAE Systems for this significant project. This order enhances our partnership with BAE Systems.
It showcases our proficiency in producing highly complex and thin-walled Titanium castings for such critical applications, making us amongst two to three companies with such capability. We provide top-quality products to support the defence sector and further the ‘Make in India – Make for the World’ initiative