Make In India effect: PTC Industries share price jumps 80% in eight days

  • Make In India effect: PTC Industries share price has ascended from 8,226 to 14,900 apiece level in eight straight sessions

Asit Manohar
First Published14 Jun 2024, 02:36 PM IST
PTC Industries recently announces partnership with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative.
PTC Industries recently announces partnership with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the ’Make in India’ initiative.(Photo: iStock)

Make In India effect: PTC Industries share price has been on an uptrend for the last eight successive sessions. In this period, PTC share price has risen from 8,226 apiece to 14,900 per share mark, recording over 80 percent rally in this period. The small-cap company registered a sharp upside after informing the Indian stock market exchanges about participation in the particular purpose vehicle (SPV) under the 'Make In India' initiative, a government-led campaign to encourage multinational and domestic companies to manufacture their products in India. In this participation, the company declared a partnership with top defence entities. This led to a spurt in the trade volume of the stock.

Stock market experts attribute the ongoing rise in PTC Industries' share price to the company's robust Q4 results. This announcement has been a catalyst for the stock's rally, with the share price consistently reaching new record highs. These experts predict that the stock's upward momentum may continue, potentially reaching 15,500 in the near future.

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Trigger for PTC Industries shares

Highlighting the triggers for PTC India share price rally, Avinsh Gorakshkar, Head of Research at Profitmart Securities, said, "The reason for the rise in PTC Industries shares can be attributed to two major reasons: strong Q4 results 2024 and participation in Make In India SPV. PTC India shares are ascending after announcing strong Q4 results in 2024. After the announcement of strong quarterly results, the company declared participation in SPV under Make In India, in which the company declared a partnership with top defence entities. This triggered fresh buying in the stock in the recent sessions."

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PTC Industries share price target

Reiterating the advice for existing and potential investors, Sumeet Bagadia, Executive Director at Choice Broking, said, "PTC Industries shares have made a strong base at the 14000 mark. The stock still looks positive on the technical chart and is expected to touch 15,000 and 15,500 in the near term. Therefore, PTC India shareholders are strongly advised to hold the scrip maintaining a stop loss at 14,000 per share level. For potential investors, this is a good time to consider buying the stock."

On the suggestion to fresh investors regarding PTC Industries shares, Sumeet Bagadia said, "Fresh investors can buy the scrip at the current level and maintain a buy-on-dips strategy until the stock is above 14,000. One can buy and hold the scrip for 1,500 per share target, maintaining a strict stop loss at the 14,000 per share mark."

Make In India participation

On Monday this week, PTC Industries declared participation in Make In India, saying, "PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, is delighted to announce its partnership with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative."

A Green Field Defence Testing Facility is being established in the Lucknow Node of the UP Defence Industrial Corridor under the DTIS scheme to overcome the challenge of the expensive, state-of-the-art testing infrastructure. This facility, named "Advanced Materials (Defence) Testing Foundation", is a collaborative effort among key industry players, including Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority. The Government of India will fund 75% of the project cost, with the remaining 25% funded by the SPV members, totalling an approximate cost of 53 crores.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:14 Jun 2024, 02:36 PM IST
HomeMarketsStock MarketsMake In India effect: PTC Industries share price jumps 80% in eight days

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