Share Market News: PTC Industries Shares Gain By Rs 694 On BSE

Shares of PTC Industries gained by around 5 per cent of Rs 694 on Tuesday as the company informed exchanges that its wholly-owned subsidiary Aerolloy Technologies Limited has acquired a hot rolling mill for manufacturing plates and sheets in titanium alloys for aerospace and defence applications. The counter opened at Rs 14,245 on the BSE and gained further to touch the high of Rs 14,575.45
The counter opened with a gain of 2.45 per cent from the previous close of Rs 13,881.40 on the BSE. The 52-week high of the stock is Rs 15,650 and the 52-week low is Rs 4,473.40.
“Aerolloy Technologies Limited (a wholly owned subsidiary of PTC Industries Limited, herein referred to as “ATL”), a manufacturer of strategic and critical materials and high integrity metal components, for various critical and super-critical applications in Aerospace and Defence, today announced the acquisition of a Hot Rolling Mill for manufacturing Plates and Sheets in Titanium Alloys for Aerospace and Defence applications,” the company said in a release.
This advanced capability being acquired from USA represents a significant milestone for the company. This will be a further value addition of Titanium Alloy ingots and billets that will be produced by ATL’s upcoming Strategic Materials Technology Complex in Lucknow node of the UP Defence Industrial Corridor (UPDIC).
With this Hot Rolling Mill acquisition, the company will have a fully Vertically Integrated capability which covers the entire Titanium alloy products Value Chain, with the company’s offering covering Titanium Alloy Ingots, Billets, Bars, Rods, Castings and now Plates and Sheets also. This would be a very unique capability in the world where this value chain, at global capacity levels, is covered at a single site. make help it expand its profitability and margins.