FORGED WHEELS
ET Prime Special Series: Multibagger or IBC - Part 82: This auto ancillary’s name tells only 20% of the story. What’s the other 80%?
The shift towards electric vehicles, or EVs, is forcing traditional auto-component suppliers to reconsider their future. For some, it threatens core products. For others, it creates opportunities in components that can survive the death of the combustion engine. This supplier finds itself on both sides of that transition. Its original business is exposed to ICE vehicles, while its manufacturing division has developed products relevant to EVs. Alongside, the company is pursuing other initiatives. Will these translate into stronger profits, or will rising financial obligations limit the benefits?
Will analysts' predictions go wrong? 15 auto stocks with upside potential of up to 50% to as low as negative 1%
For anyone trying to figure out where the economy is headed in the next six months, the numbers to watch will come from auto showrooms. The auto sector has, for long, provided the earliest indications of the health of the economy. And the sales numbers it puts out ahead of the festive weeks are where the correlation is best seen. So, keep a close watch on the auto pack.
ET Prime Special Series: Multibagger or Bankruptcy? Part 79: 5 years changed the size of this auto supplier. Will it pass the quality test?
The most striking number in this story is not a margin or a market-share target. It is a measure of scale. Revenue in the latest quarter was almost the same as full-year sales in FY21 and higher than the entire FY20 top line. It also argues that its current heavy-vehicle exposure is not under an immediate EV threat. For investors, the story is shifting from whether the company can grow to whether the additional capital can generate better returns.
Defence stocks: Time to change strategy in a bearish market? An ecosystem with down and upside potential of -39% to plus 37%
The current fall is both at the level of the indices and the broader market. And when the selling is this broad, almost every sector is affected. But they do not all feel it equally, and it is worth knowing why every sector behaves differently at different points of time. Stock Reports Plus, powered by Refinitiv, is a comprehensive report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. The simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
Adroit Industries IPO subscribed 176 times on Day 3; GMP at 28%. Check details
Adroit Industries' IPO opened for subscription on September 23 and was heavily subscribed by September 25. The overall subscription reached 176.85 times, reflecting significant interest from retail and institutional investors. The Grey Market Premium for the IPO increased, indicating potential for a strong market debut. The company plans to use the proceeds primarily for capital expenditure and enhancing manufacturing capabilities.
Adroit Industries IPO Day 2: GMP at 25%, subscription reaches 5.18 times. Should you subscribe?
Adroit Industries IPO enters its second day of bidding with strong investor interest, commanding a 25% premium in the grey market. The Rs 150.71-crore issue was subscribed 5.18 times on Day 1. Analysts suggest considering the issue from a long-term investment perspective given its vertically integrated operations and strong exports.
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EV story in auto ancillaries is known. A second change could matter more: 5 auto ancillary stocks, 3 with upside potential of 9% to 24%
What actually is an auto component company? If you forget the fact that it makes car parts, what you have is a precision-engineering business. It makes metal parts to very fine tolerances, to a consistent standard, in large numbers, day after day. That skill, the ability to make a crucial part correctly every single time, is the real asset. That the part happens to go into a car is almost incidental.
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analysts
As an investor, what you need to do at this point of time is this: A bit of extra work in terms of stock-picking so that you avoid anxiety during future corrective phases in the market. And there should not be any doubt that, given the current geopolitical conditions, there will be many more corrective phases.
For investors who know and accept that bears can roam the street longer: 5 mid-cap stocks with upside potential of up to 29%
It is when the market displays the kind of sentiment it is doing now that most investors develop a strong desire to just get out. That’s quite understandable, especially as more trouble is expected. But there is a problem with getting out. The market can turn on a single sentence, over a single weekend, and by the time you register the move, it is gone. As you cannot reliably jump out and back in, the sensible thing to do is to hold on to good businesses and forget about timing the market.
EV-related stocks: Own the chain, not the guess; 13 stocks with upside potential of up to 28% and downside risk of -14%, according to analysts
In the stock market, when a big theme or sectoral trend takes off, most investors focus on the face of it. A brand with which they can relate. The same is happening in the auto sector, which is transitioning to the EV age. However, behind every EV is a long, hidden chain of businesses. Chasing an obvious name means betting on just one stock. There is a better way. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. SR+ Reports is a complimentary offering to ETPrime members.
Psychology says resilience is not something you are born with, but a skill built with time, patience and practice
Resilience is the ability to handle stress through learned skills, rather than something you're born with. It's a multifaceted capacity shaped by your environment and daily practices. Building strong relationships and managing emotions effectively are essential to this process. By consistently engaging in healthy habits and surrounding yourself with supportive influences, you can cultivate a deeper sense of resilience.
Alstom seeks 200 more locomotive orders from Indian Railways
French train maker Alstom is seeking a follow-on order for 200 electric freight locomotives from Indian Railways for its Madhepura plant in Bihar. The company is nearing completion of its existing 800-locomotive contract, with deliveries due by March 2028, and is discussing additional orders and greater localisation of components.
Ramkrishna Forgings set to foray into forged wheel production next month
Ramkrishna Forgings is set to make waves in the manufacturing sector as they commence operations at their Chennai facility in June. This venture into forged wheel production positions them to create Asia's second-largest wheel manufacturing unit. With an impressive order book of ₹9,635 crore, FY27 is shaping up to be a pivotal year, underlining the company's ambitious growth trajectory.
RamKrishna Forgings looks to start forged wheel production from Chennai plant in FY27
Ramkrishna Forgings is venturing into forged wheel manufacturing with a new plant in Chennai, targeting an annual capacity of 228,000 wheels. With an estimated project cost of Rs 2,000 crore, the company anticipates significant revenue generation from this vertical, complemented by initial orders for assembled undercarriages from Indian Railways, projecting revenues of Rs 250-300 crore in two years.
TRSL's foray into wheelset manufacturing timely amid supply disruptions: Official
Titagarh Rail Systems Ltd. (TRSL) is venturing into forged wheel manufacturing through a joint venture to address India's wheelset shortage, crucial for train production. Hindered by supply constraints, TRSL aims to stabilize wagon production and reduce import dependence, aligning with the Atmanirbhar Bharat initiative.
Switzerland's KLW Wheelco company resumes Ukraine-made wheel supplies to Indian Railways after two years
Switzerland's KLW Wheelco has delivered 2,000 Ukrainian-made forged wheels to Indian Railways, marking the first shipment since the Russia-Ukraine conflict began. An additional 3,500 wheels are en route. This order is part of a larger deal for 10,000 wheels worth ₹72 crore, highlighting India's efforts to diversify import sources.
Swiss company supplies Ukraine-made wheels to Indian Railways
Switzerland's KLW Wheelco has delivered 2,000 Ukrainian-made forged wheels to Indian Railways, marking the first such delivery since the Russia-Ukraine conflict began. An additional 3,500 wheels are en route. India aims to diversify its import sources while ramping up domestic wheel production.
Jupiter Wagons expanding production capacity of subsidiary in Odisha with Rs 2,500 cr investment
Jupiter Wagons is expanding its Odisha facility to produce 100,000 forged wheel sets annually by 2027 with an investment of Rs 2,500 crore. Partnering with Schuler Pressen GmbH, the project will support the 'Make in India' initiative and cater to both domestic and international markets, enhancing operational efficiency.
India set to become exporter of forged wheels used in railways: Ashwini Vaishnaw
The Integral Coach Factory here has achieved the distinction of producing over 73,700 coaches since its inception in 1955 which is the highest by any passenger coach manufacturer in the world. ICF has exported more than 875 coaches and components to Thailand, Burma, Taiwan, Zambia, Vietnam and other countries totalling about Rs 1,004 crore of trade.
Railways needs 80,000 wheels annually, initiate projects to become atmanirbhar: Ashwini Vaishnaw
"Our requirement is 80,000 wheels. We have started a project under which we can make forged wheels up to 2.30 lakh. We will consume 80,000 here and we will export the remaining wheels," Ashwini Vaishnaw added.
Ramkrishna Forgings-Titagarh Rail consortium bags Rs 12,227 cr order from railways
A consortium of Ramkrishna Forgings Ltd and Titagarh Rail Systems Ltd has bagged an order worth about Rs 12,227 crore from the railways ministry to supply 15.40 lakh forged wheels under the government's Atmanirbhar Bharat initiative.
Ramkrishna Forgings shares jump 8%, hit 52-week high on Rs 12,226 crore order win
Ramkrishna Forgings' stock price rose 8% to reach a 52-week high of INR 440 on BSE after the company and Titagarh Rail Systems consortium secured a contract for INR 12,226.5 crore. Under the Atmanirbhar Bharat Initiative, the companies will deliver 15.4 lakh forged wheels over 20 years, with the expectation of manufacturing 2,00,000 wheels annually. The wheels will cater to the needs of the LHB coaches, Vande Bharat Express Trains, WAG9 Locomotives and others. To meet this financial requirement, both companies will contribute equity on an equal basis, ensuring a robust funding structure to support the project's capital expenditure needs.
RINL aims to make 55,000 wheels in FY24 to meet Railways' demand: CMD Atul Bhatt
State-owned steel manufacturer RINL plans to produce 55,000 wheels in the current financial year to meet demand from Indian Railways. RINL has established a forged wheel plant at Lalganj, estimated at ₹23.5bn ($312m). The facility has a yearly capacity of 100,000 wheels, and the company aims for 50% utilisation. Located in Uttar Pradesh, the plant will reduce the country's dependence on imported wheels and supply the railways with wheels of better quality.
Indian Railways plans 'Make in India' wheels for trains
The Indian Railways plans to reduce its import dependence on Russia, China and European countries for forged wheels for its trains and locomotives. Currently, they have been importing it from the Czech Republic, Brazil, Romani, Japan, China, Ukraine, Russia and the UK since the 1960s. The supply was for wheels was hit last year as a fallout of the ongoing Russia-Ukraine war. According to railways, at present the requirement for wheels is being met from China.
Government looking to sell Rashtriya Ispat Nigam Ltd's forged wheel plant
Senior government officials told ET that the proceeds of the plant's slump sale will be used to fund other projects of RINL. "This will be a strategic sale. The forged wheel factory will be offered to the private sector," an official in the know told ET.
Rail Ministry floats Rs 1000 crore tender to manufacture forged wheels
“This is the first time that the Indian Railways has floated a tender to invite private players to build a wheel plant and make wheels for high speed trains. The next step is to invite bids for setting up a plant to manufacture high speed railway tracks too,” Vaishnaw told journalists in Delhi.
RINL plant disruption behind wheels tender to Chinese company: Officials
"While commercial operations of the plant commenced in September 2021, due to operational issues, the RINL plant is not being run as of now. Regular wheel supplies from the plant will take some time to start," a senior government official told ET on condition of anonymity.
RINL to begin commercial production of forged wheels at UP plant this month
Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up a plant in Rae Bareli at a cost of around Rs 1,680 crore, with a production capacity of one lakh pieces of forged wheels per annum.
Vizag Steel Plant's RINL produces first forged wheel from its Lalganj plant
The plant will have production capacity of 1,00,000 high speed wheels per annum. The plant will supply wheels to the Indian Railways in a move that will and lead to import substitution. The raw material for the Lalgunj plant will be supplied from VSP. It will be transported by train.
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