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PTC Industries won an order exceeding ₹100 crore from BrahMos Aerospace. However the stock slipped nearly 3% post the development.
What’s happening: the order is to supply critical titanium castings used in the supersonic cruise missile programme. The order marks a step up in the partnership between both the companies and comes amid the government’s push for indigenisation under its Aatmanirbhar Bharat initiative.
Background: the Lucknow-based company has been working with BrahMos since 2019, supplying important titanium parts and raw materials. It also provides critical components to top defence organisations like Hindustan Aeronautics and the Defence Research and Development Organisation.
