Mukul Agrawal Portfolio: PTC Industries Shares In Green After This Business Update

PTC Industries' shares jumped to a day high of Rs 14520.25 on Monday, up from the previous closing of Rs 13656.55. The shares began higher on the BSE on Monday at Rs 13700 each. The spike in the price of Mukul Agrawal's portfolio stock followed the successful development of the most cutting-edge casting technology by Aerolloy Technologies Limited, a fully owned subsidiary of PTC Industries Limited, for the production of single crystal and directionally solidified blades and vanes for use in industrial gas turbine and aero-engine applications.
This production capacity has been put up by the company at its Lucknow site. PTC is the only firm in India and one of the few in the world with this kind of technological know-how.

"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," said PTC Industries in a stock exchange filing.

The company will be able to create airfoils with complex internal hollow cooling tunnels and highly specialised microstructures like single crystal or directionally solidified thanks to this capacity and the infrastructure that goes along with it. Due to its extensive specialisation, this manufacturing technology has historically been closely guarded by leading companies in three or four different nations. The firm is now one of the few in the world with the technology and capacity to produce and supply these cutting-edge metallurgical components thanks to this strategic achievement.

Commenting on this development Mr. James Collins, Chief Technology Officer, PTC Industries said: "We are immensely proud to have integrated the pinnacle of casting technologies into our operations, marking a significant milestone for our company. The acquisition of Single Crystal and Directionally Solidified casting capabilities not only enhances our product offerings but also reinforces our commitment to innovation and excellence. By mastering this highly specialized manufacturing technology, we are poised to meet the growing demand of the defence and aerospace industry and secure a leading position in manufacturing technology."

For more than 60 years, PTC Industries Limited has been a prominent Indian producer of precision metal components for key applications. The firm manufactures and supplies titanium and superalloy castings for aerospace and defence applications in India as well as for exports through its fully-owned subsidiary Aerolloy Technologies Limited.

The company also recently on 28th June informed marketplaces that "We wish to inform you that as per the Company's Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015 and the amended Clause 4 of the Schedule B of PIT Regulations regarding Trading restriction period applicable from the end of every quarter till 48 hours after the declaration of financial results, the trading window for dealing in the securities of the Company remains closed for all Directors/ Officers/ Designated employees of the Company from July 01, 2024 till 48 hours after the declaration of financial result for the quarter ended on June 30, 2024. Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the outcome of the Board Meeting will be intimated immediately on completion of the meeting and after that we shall arrange to publish the results within 48 hours from the date of announcement of results."

PTC Industries is among the portfolio stocks of Mukul Mahavir Agrawal in which the ace investor has a 1.16% stake.