PTC Industries Ltd’s shares were up 5 five per cent after the company inked a multi-year contract for the production of casting parts for the LEAP engine with Safran Aircraft Engines, which powers single-aisle jets. The agreement highlights the role of PTC Industries in manufacturing titanium-casting parts for Safran Aircraft Engines, aligning with the Indian Government’s “Make in India” policy.

The collaboration aims to support Safran Aircraft Engines in developing a comprehensive aero engines ecosystem in India, reinforcing its global supply chain for the LEAP production ramp-up. Initial deliveries of the titanium casting parts for LEAP engines are expected in early 2024.

According to the company, India currently ranks as the third-largest operator of LEAP engines, with 75 per cent of the country’s commercial aircraft equipped with CFM’s advanced turbofan. The demand is reflected in the more than 2,200 LEAP engines ordered by Indian airlines to date.

The shares jumped5 five per cent to ₹5164.75 at 11 am on the BSE.