Balu Forge Industries soars on securing major trial order to supply Powertrain sub-assemblies
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Balu Forge Industries is currently trading at Rs. 94.93, up by 5.25 points or 5.85% from its previous closing of Rs. 89.68 on the BSE.
The scrip opened at Rs. 92.99 and has touched a high and low of Rs. 99.85 and Rs. 92.99 respectively. So far 134456 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.45 on 07-Apr-2022 and a 52 week low of Rs. 52.00 on 26-Aug-2022.
Last one week high and low of the scrip stood at Rs. 99.85 and Rs. 87.20 respectively. The current market cap of the company is Rs. 791.38 crore.
The promoters holding in the company stood at 65.41%, while Institutions and Non-Institutions held 11.59% and 23.01% respectively.
Balu Forge Industries (BFIL) has secured a major trial order to supply Powertrain sub-assemblies to a tractor manufacturer based out of the middle-east. The contract is a testament to the quality of BFIL's products and its commitment to providing innovative solutions that meet the evolving needs of the agricultural industry.
Under the terms of the contract, BFIL will supply a range of powertrain sub-assemblies. These components will be used in the production of engines that will power a variety of tractors. The trial order initially comprises of supplying 10,000 sets of sub-assemblies & there is scope to increase the same to over 50,000 annually. BFIL has already started the supply under the said contract and expects to generate further revenues in upcoming quarters.
This order win is in line with the overall strategic initiatives taken by the management on expanding its presence in the international market while increasing the suite of products offerings by BFIL. This marks an entrant for BFIL in the field of powertrain sub assembly production & supplies which will build a strong foundation for the company with the objective of adding Sub Assemblies for new energy vehicles to its product mix in the near future as well.
Balu Forge Industries is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. It has the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles.
