India's Ramkrishna Forgings hits record high on NCLT's nod to buy JMT Auto

JMT Auto

22/08/2023 07:45

** Shares of Ramkrishna Forgings  RKFO.NS  rise as much as
6.3% to hit an all-time high of 690 rupees 
    ** Forging components maker on Monday, after market hours,
said it received verbal approval from National Company Law
Tribunal (NCLT) to acquire JMT Auto
    ** RKFO on track to rise for second straight session, if
gains hold 
    ** More than 851,000 shares change hands by 12:10 p.m. IST,
1.4x the 30-day moving avg
    ** Four of the six analysts covering the stock have "buy" or
"strong buy" rating, one has "hold" while one rates it at
"strong sell"; median PT is 555 rupees - Refinitiv data
    ** As of last close, stock more than doubled so far this
year


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))