Bharat Forge gains on making further investment in Aeron Systems
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Bharat Forge is currently trading at Rs. 616.50, up by 3.50 points or 0.57% from its previous closing of Rs. 613.00 on the BSE.
The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 620.80 and Rs. 615.20 respectively. So far 9868 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 676.10 on 13-Jan-2021 and a 52 week low of Rs. 207.85 on 07-Apr-2020.
Last one week high and low of the scrip stood at Rs. 648.50 and Rs. 605.80 respectively. The current market cap of the company is Rs. 28540.58 crore.
The promoters holding in the company stood at 45.76%, while Institutions and Non-Institutions held 36.07% and 18.16% respectively.
Bharat Forge has made further investment of Rs 4 crore in its associate company - Aeron Systems by way of purchasing 39,000 equity shares of face value Rs 10 each at a premium of Rs 1,015.64 in accordance with the terms of Shareholders Agreement with Aeron and its founders. Consequently, the company's stake in Aeron has been increased from 26% to 36% (fully diluted).
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
