Bharat Forge soars as its arm collaborates with Talgo India to set-up joint venture
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Bharat Forge soars as its arm collaborates with Talgo India to set-up joint venture
Jul-28-2022 12:18 Hrs IST
Bharat Forge is currently trading at Rs. 727.35, up by 13.50 points or 1.89% from its previous closing of Rs. 713.85 on the BSE.
The scrip opened at Rs. 718.50 and has touched a high and low of Rs. 729.00 and Rs. 713.80 respectively. So far 41925 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 848.00 on 10-Nov-2021 and a 52 week low of Rs. 595.85 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 729.00 and Rs. 690.15 respectively. The current market cap of the company is Rs. 33918.13 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 43.31% and 11.44% respectively.
Bharat Forge’s wholly-owned subsidiary -- BF Infrastructure and Talgo India, a wholly-owned subsidiary of Patentes Talgo S.L. have collaborated together to set-up a joint venture which will engage into manufacturing high speed passenger trains. The alliance will also address in future large business opportunities in the Indian Railways sector and tap the upcoming domestic requirements in the field.
The collaboration between BF Infrastructure and Talgo India will significantly contribute to Government of India’s initiative of Atmanirbhar Bharat. The collaboration will help bring state-of-the-art and high-speed rail technology and solutions to the Indian Railways and other private operators that will serve under the overarching self-reliant vision.
The proposed collaboration will also focus on setting-up manufacturing, maintenance and life cycle support hub for new generation, energy efficient, lightweight aluminum high speed railway trains. The collaboration between the companies comes amidst the backdrop of the Indian Railway’s tender for the manufacturing and maintenance of 100 new generation light weight energy efficient trains.
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.
