PTC Industries hits 10% upper circuit as arm wins Safran Aircraft order

Aerolloy Technologies, a wholly owned subsidiary of the company has received an order from Safran Aircraft Engines, to develop and supply of Titanium cast components for Aircraft Engines

Shares of PTC Industries were locked in 10 per cent upper circuit at Rs 2,832.95 in Friday's intra-day trade, after Aerolloy Technologies (ATL), a wholly owned subsidiary of the company received order from Safran Aircraft Engines (SAE), to develop and supply Titanium cast components for Aircraft Engines.

This is the first time SAE would be developing and sourcing Titanium cast components for its Aero-engines from India, the management said.

In the past three trading days, the stock of PTC Industries rallied 16 per cent. In the past six months, it zoomed 45 per cent, as compared to 1 per cent rise in the S&P BSE Sensex.

ATL is a manufacturer of strategic and critical materials and high-integrity metal components, for various critical and super-critical applications in aerospace. PTC Industries is one of the world’s leading suppliers of high precision metal components for critical and super critical operations across a wide range of segments including aerospace, defence and industrial.

SAE is a French aerospace engine manufacturer headquartered in Courcouronnes and a subsidiary of Safran that designs, develops, manufactures, and maintains engines for commercial and military aircraft. It also offers on-site maintenance, repair, training, and consulting services.

SAE is one of the oldest engine makers and one of the largest engine makers, and a leading manufacturer of mainline commercial jet engines in the world. The company's products alone or in partnership, include the Dassault Rafale's M88 engine, the Concorde's Olympus 593, the CFM56/CFM-LEAP for single-aisle airliners, and the Ariane 5's Vulcain engine.

Meanwhile, on February 15, PTC Industries and Hindustan Aeronautics Limited – SED, Koraput signed a Memorandum of Understanding (MoU) to explore opportunities for mutual cooperation and business development for indigenisation of aviation grade Raw Materials, Components, Sub-systems and Systems of Aero-Engines of Russian origin aircraft.