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MM Forgings rises on plan to invest Rs 40 crore this year

26 Apr 2012 Evaluate

MM Forgings is currently trading at Rs. 95.00, up by 0.95 points or 1.01% from its previous closing of Rs. 94.05 on the BSE.

The scrip opened at Rs. 94.00 and has touched a high and low of Rs. 95.00 and Rs. 94.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 143.40 on 28-Apr-2011 and a 52 week low of Rs. 81.10 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 98.70 and Rs. 92.15 respectively. The current market cap of the company is Rs. 114 crore.

The promoters holding in the company stood at 59.47% while Institutions and Non-Institutions held 12.63% and 27.90% respectively.

MM Forgings, auto component manufacturer is likely to invest Rs 40 crore this year with the objective of pushing its forging plants towards max performance. In the last year the combined production across the plants in Chennai, Tiruchi and Madurai was 32,000 tonnes. The peak capacity of the plants is 40,000 tonnes.

The company expects this growth through the export, which will driven by demand from the global commercial vehicles industry. It is keen to chase new customers and make new parts such as machined gear blanks and bigger steering parts.

MM Forgings manufactures steel forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels in the weight range of 0.20 Kg to 60 Kg. The company caters to the forging requirements of almost all sections of industry.

MM Forgings Share Price

463.25 2.45 (0.53%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Bharat Forge 1859.95
Ramkrishna Forgings 535.30
MM Forgings 463.25
Happy Forgings 1336.75
Balu Forge Industrie 486.20
View more..

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