Latest news with #RamkrishnaForgingsLtd
Business Standard
15-05-2025
- Business
- Business Standard
Volumes soar at eClerx Services Ltd counter
eClerx Services Ltd clocked volume of 18590 shares by 10:47 IST on BSE, a 13.18 times surge over two-week average daily volume of 1410 shares Ramkrishna Forgings Ltd, Linde India Ltd, Shree Cement Ltd, Jubilant Foodworks Ltd are among the other stocks to see a surge in volumes on BSE today, 15 May 2025. eClerx Services Ltd clocked volume of 18590 shares by 10:47 IST on BSE, a 13.18 times surge over two-week average daily volume of 1410 shares. The stock gained 9.18% to Rs.3,000.00. Volumes stood at 1658 shares in the last session. Ramkrishna Forgings Ltd saw volume of 4.03 lakh shares by 10:47 IST on BSE, a 9.02 fold spurt over two-week average daily volume of 44655 shares. The stock increased 7.19% to Rs.625.45. Volumes stood at 48686 shares in the last session. Linde India Ltd witnessed volume of 9726 shares by 10:47 IST on BSE, a 6.36 times surge over two-week average daily volume of 1529 shares. The stock increased 4.41% to Rs.7,158.25. Volumes stood at 4495 shares in the last session. Shree Cement Ltd recorded volume of 2626 shares by 10:47 IST on BSE, a 6.35 times surge over two-week average daily volume of 413 shares. The stock gained 3.17% to Rs.31,603.10. Volumes stood at 1860 shares in the last session. Jubilant Foodworks Ltd witnessed volume of 1.41 lakh shares by 10:47 IST on BSE, a 5.06 times surge over two-week average daily volume of 27925 shares. The stock dropped 1.82% to Rs.680.90. Volumes stood at 54095 shares in the last session.
Economic Times
12-05-2025
- Business
- Economic Times
How ‘net worth' has become the new gift wrap for bad news
In a development that has raised eyebrows on Dalal Street, Kolkata-based Ramkrishna Forgings Ltd (RKFL) recently announced discrepancies in its inventory — not in absolute numbers, but in terms of net worth. This unconventional mode of disclosure has drawn criticism from analysts and accounting professionals for its potential to obscure the true financial impact on the company. In an exchange announcement last month, RKFL stated that during an
Time of India
29-04-2025
- Business
- Time of India
Ramkrishna Forgings shares fall on disclosure of inventory discrepancies
Mumbai: Ramkrishna Forgings Ltd's shares fell nearly 4.8% on Monday, after the supplier of forged parts for automotive, defence, railways and mining sectors disclosed over the weekend that inventory discrepancies could knock 4-5% off its net worth. The company's promoters on Monday pledged to step in and fund any shortfall, helping cushion the blow. 'Our priority at this moment is to ensure correct assessment of the discrepancies and to take appropriate remedial measures,' managing director Naresh Jalan said on an investor call. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Manila: Surplus Container Homes Available at Unbelievable Prices (See the Deals) LocalPlan Learn More Undo It discovered the discrepancies during the annual fiscal 2025 stock taking, Ramkrishna Forgings said in a filing with stock exchanges on Saturday. The company has engaged independent external agencies for a forensic audit after its audit committee approved a fact-finding exercise. Analysts estimate its net worth at around Rs3,000 crore. This would mean a notional impact of around Rs150 crore. Analysts said it could go up further. Calling this the first such incident in its history, Ramkrishna Forgings said it would account for any financial hit on a one-time basis once the external audit concludes. Live Events The company's shares fell to Rs625.05 on the BSE Monday, when the benchmark Sensex ended about 1.3% higher. Jalan said he 'takes moral responsibility' for what has happened and will ensure the promoters live up to the expectations of the investor community and best corporate governance practice. 'We are fully cognisant of any actions and recommendations by the reputed agencies and, as approved by the board, may have implications on the net worth of the company,' he told investors. In response to a question on the need for a fund infusion by the promoters, Jalan said it is being done with a 'single-minded focus of enhancing the financial position of the company. This infusion will also provide additional liquidity to the company and strengthen its leverage position,' he said. The company runs 18 manufacturing plants in India with a total capacity of 3,06,000 metric tonnes. Tata Motors is its largest customer, with medium and heavy commercial vehicles contributing the bulk of revenues. In FY2024, Ramkrishna Forgings made a spate of acquisitions to diversify into new segments like passenger vehicles, tractors, and light commercial vehicles. As the cause of the error, its magnitude and impact on profit and loss is not known yet, there is uncertainty on the overall impact on financials, DAM Capital analyst Mitul Shah wrote in a research note. 'The details from an independent auditor are most critical in this scenario. Therefore, we would await the outcome of the independent auditor's report and auditors' remark for better clarity, before taking any concrete view,' Shah wrote, placing his rating of the stock 'under review'.
