Shares of PTC jumped 9.9% to hit a 52-week high of ₹7,266.40 apiece on BSE today after Aerolloy Technologies Limited (ATL), a wholly owned subsidiary of PTC Industries Limited, and French manufacturer Dassault Aviation entered into a multi-year agreement for the supply of Titanium casting parts manufactured in India.

This comprehensive pact, inked between ATL and the French military aircraft giant, spans multiple years. As part of the pact, Aerolloy will manufacture the complete range of Titanium casting parts for the Rafale multirole fighter aircraft and the Falcon business jet programme from 2024, the exchange filing by the company states.

"Through this agreement, Aerolloy Technologies is poised to contribute significantly to the enduring success of Make in India – Make for the World. As the only India-based manufacturer of critical titanium cast parts, we are eager to leverage our capabilities to support the growing requirements of the various aircraft in Dassault Aviation’s portfolio,” says Sachin Agarwal, Chairman and Managing Director of PTC Industries.

The development comes days after PTC signed a memorandum of understanding (MoU) with UK-based Nasmyth in December last year in order to provide solutions to defence and aerospace customers globally.

Through the MoU, PTC India aims to enhance its capabilities for better Indian customer requirements. This cooperation aimed to focus on developing casting, machining, assembly, and thermal precision engineering capabilities in India, said the company.

On October 19, 2023, PTC India Ltd. announced that it approved ONGC Ltd.'s proposal for the acquisition of its wholly-owned subsidiary, PTC Energy Limited (PEL). The equity value assigned to this deal is ₹925 crores, with potential adjustments in the bid value as per the bid format.

Engaged in electricity trade, it was reported that PTC India traded electricity with Bhutan, Nepal, and Bangladesh, involving large-scale power projects, including renewables. Additionally, the company engages in short-term trading to address supply and demand imbalances prevalent in various regions of the country, the filing states.

Ownership of PTC India is distributed with 83.78% held by the public and 16.22% by the promoter and promoter group.

Titanium casting

PTC partners with Dassault Aviation for Indian-made Titanium casting parts; stock surges 10%