New Delhi, Oct. 13 -- Ramkrishna Forgings share price has surged over 34% in 2026 so far. Monarch Networth Capital has initiated coverage on the stock with a 'Buy' rating and a target price of Rs.806 per share, implying an upside potential of around 18% from the prevailing market price. In its initiation report, the brokerage cited the company's business diversification, expanding railway opportunities and improving capacity utilisation as key drivers of future earnings growth.

The brokerage expects the company's expansion across passenger vehicles (PVs), railways, oil and gas, exports and value-added products to support its next phase of earnings growth. It also sees improving utilisation of the company's existing manufacturing faciliti...