Bharat Forge soars on incorporating wholly-owned subsidiary
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Bharat Forge is currently trading at Rs. 639.90, up by 6.60 points or 1.04% from its previous closing of Rs. 633.30 on the BSE.
The scrip opened at Rs. 634.00 and has touched a high and low of Rs. 641.10 and Rs. 631.35 respectively. So far 17869 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. 677.45 and Rs. 630.00 respectively. The current market cap of the company is Rs. 29695.24 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 43.51% and 11.23% respectively.
Bharat Forge has incorporated a wholly-owned subsidiary in the name of Kalyani Lightweighting Technology Solutions (KL TSL) on July 12, 2022. KL TSL has been incorporated with a view of creating a separate vertical for aluminium business and for light weighting technology. KL TSL will focus on the manufacturing of aluminium components for automotive & industrial applications and carry out research and development activity on light weighting through new materials and technologies.
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.
