Bharat Forge rides high on getting nod to further invest in Kalyani Powertrain
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Bharat Forge is currently trading at Rs. 949.65, up by 44.70 points or 4.94% from its previous closing of Rs. 904.95 on the BSE.
The scrip opened at Rs. 904.90 and has touched a high and low of Rs. 951.05 and Rs. 887.55 respectively. So far 96776 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 951.05 on 09-Aug-2023 and a 52 week low of Rs. 677.85 on 29-Sep-2022.
Last one week high and low of the scrip stood at Rs. 951.05 and Rs. 887.55 respectively. The current market cap of the company is Rs. 43905.01 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 44.59% and 10.16% respectively.
Bharat Forge has received approval for further investment of an amount not exceeding Rs 150 crore in Kalyani Powertrain (KPTL), a wholly owned subsidiary of the Company, from time-to-time, in one or more tranches. KPTL houses all of the Electronic Vehicle (EV) initiatives of the company. The Board of Directors of the Company at its Meeting held on August 09, 2023 considered and approved the same.
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.
