Ramkrishna Forgings shares jump 10% after Q2 results, surge 35% in 2026: Is more upside ahead? | Key levels to watch

Ramkrishna Forgings shares surged 10% on Monday, 2 November, after the company reported a strong turnaround in its September quarter performance, posting a consolidated net profit of ₹70.59 crore in Q2 FY27 against a loss of ₹9.5 crore in the corresponding quarter last year.The Kolkata-headquartered forged metal products manufacturer reported a sharp increase in revenue from operations, which rose to ₹1,405.42 crore in the July-September quarter from ₹907.53 crore a year earlier.Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to ₹256.23 crore in Q2 FY27, compared with ₹122.54 crore in the year-ago period.For the first half of FY27, consolidated net profit climbed to ₹117.47 crore from ₹2.29 crore in the corresponding period of the previous financial year.

Revenue during the six-month period increased to ₹2,622.09 crore from ₹1,922.79 crore. Commenting on the performance, Managing Director Naresh Jalan said domestic demand remained healthy during the September quarter, supported by firm commercial vehicle production schedules. Customer activity across key export markets also remained resilient, he added. Looking ahead, the company is expanding its presence in non-ferrous forgings, including aluminium, titanium, inconel and nimonic grades, targeting high-technology applications in aerospace, robotics and semiconductors, Jalan said.

The company also said its forged wheels facility near Chennai, established through a joint venture with Titagarh Rail Systems, is nearing the start of commercial production. The facility will enable Ramkrishna Forgings to enter a strategically important product category for Indian Railways and provide an additional long-term growth driver. Ramkrishna Forgings is an integrated manufacturer of rolled, forged, machined and cast products.

The company operates 20 manufacturing facilities across India and Mexico, with an installed capacity of 3,95,800 metric tonnes as of 30 September 2026. Its operations span ring rolling, forging, press and casting processes. Ramkrishna Forgings share price todayRamkrishna Forgings share price today opened at ₹698 apiece on the BSE; the stock touched an intraday high of ₹711.40 and a low of ₹662.30.Ramkrishna Forgings shares have gained 15.16% over the past week, reflecting a sharp recovery in recent trading sessions.

The stock is up 1.37% over the past two weeks and has remained largely flat over the past month, rising just 0.22%.On a broader timeline, the shares have advanced 7.01% over the past three months and 16.50% in six months. The stock has delivered a strong return of 34.74% so far in 2026, indicating that it has maintained a positive trend despite intermittent volatility.Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Ramkrishna Forgings has staged a strong recovery, gaining around 20% from its 26 October low of ₹571.

The Relative Strength Index (RSI) has begun to rise, signalling a revival in bullish momentum. The MACD has also generated a bullish crossover, further strengthening the positive technical outlook.Shah said the ₹655–660 zone is likely to act as immediate support, and the ongoing recovery could extend as long as the stock sustains above this range. On the upside, the ₹735–740 zone is expected to act as an immediate resistance.Gaurav Arora, Head of Research at SAHI, said the stock is showing signs of a pullback and has moved above its 20-week and 50-week exponential moving averages (EMAs).

It also appears to be forming a base, with a cup-and-handle-like pattern taking shape and ₹740 emerging as the key breakout level.Arora said the stock could move towards ₹740 in the near term. A sustained move above this level could pave the way for further gains towards its previous high of around ₹850.Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.