Bharat Forge trades higher on raising Rs 200 crore through NCDs
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Bharat Forge is currently trading at Rs. 742.30, up by 11.15 points or 1.52% from its previous closing of Rs. 731.15 on the BSE.
The scrip opened at Rs. 731.00 and has touched a high and low of Rs. 748.25 and Rs. 731.00 respectively. So far 6768 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. 565.00 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 751.95 and Rs. 714.85 respectively. The current market cap of the company is Rs. 34611.86 crore.
The promoters holding in the company stood at 44.76%, while Institutions and Non-Institutions held 43.54% and 11.69% respectively.
Bharat Forge has raised Rs 200 crore through rated, listed, unsecured, redeemable, non-convertible debentures (‘NCDs’) and allotted 2000 NCDs bearing a face value of Rs 10 lakh each. The investment committee strategic business of the company at its meeting held on April 20, 2022 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.
