 "Bordeaux: Defense Minister Rajnath Singh inspects a Rafale Jet at its Dassault Aviation assembly line, in Bordeaux, France, Tuesday, Oct. 8, 2019. Rajnath Singh is in the city for the handover ceremony of the first Rafale combat jet acquired by the I")
Shares of PTC Industries (PTC) rallied 10 per cent to hit a fresh high of Rs 7,663.25 on the BSE in Wednesday's trade after its subsidiary signed a pact with France-based Dassault Aviation to supply the latter with titanium cast parts for the Rafale Multirole fighter aircraft.
The purchase agreement signed between Aerolloy Technologies, wholly owned subsidiary of PTC, and the French military aircraft giant is a 'multi-year' pact.
From 2024 onwards, Aerolloy will produce the full range of Titanium castings parts for the Rafale multirole fighter aircraft and the Falcon business jet program.
This agreement reflects the commitment of both companies to the 'Make in India' and Aatmanirbhar Bharat initiatives, said PTC.
The stock surpassed its previous high of Rs 7,499 touched on January 3, 2024. At 10:23 AM; PTC was quoting 9 per cent higher at Rs 7,600 as compared to a 1.2 per cent decline in the BSE Sensex.
In the past one month, the stock has rallied 26 per cent; while in the past one year it has zoomed 206 per cent.
The company manufactures and supplies titanium and superalloy castings for Aerospace and Defence applications within India as well as for exports.
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PTC Industries is a leading Indian manufacturer of precision metal components for critical applications.
The increasing demand for aerospace and defence components, particularly in India’s domestic market, presents a significant opportunity for PTC, it said.
With the government’s focus on self-reliance, PTC said its capabilities in producing high-quality materials and parts can align well with the country’s objectives to reduce import dependence.
