Balu Forge Industries moves higher on the BSE
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Balu Forge Industries is currently trading at Rs. 824.90, up by 18.10 points or 2.24% from its previous closing of Rs. 806.80 on the BSE.
The scrip opened at Rs. 815.00 and has touched a high and low of Rs. 863.00 and Rs. 814.45 respectively. So far 49496 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 890.00 on 24-Sep-2024 and a 52 week low of Rs. 154.55 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 890.00 and Rs. 721.00 respectively. The current market cap of the company is Rs. 9051.94 crore.
The promoters holding in the company stood at 56.07%, while Institutions and Non-Institutions held 9.94% and 33.99% respectively.
Balu Forge Industries (BFIL) has acquired 7 Axis CNC machines. The major focus area for this acquisition is move into a more elite category of machining companies that are capable of offering both advanced & critical machining solutions specific to industries like Railways, Defence, Aerospace & other critical precision industries globally.
The new acquisition will enhance the capability of the company to offer more precision engineered components & further increase the product portfolio in these key industries. This new acquisition consists of 7 Axis CNC machines from a prominent German manufacturer. These possess the capability to machine parts up to 3 Meters in length. The machines will provide the company a unique strength in creating high precision products from different alloys based of Aluminum to Titanium.
Balu Forge Industries was engaged in the manufacturing of agricultural machinery such as Tractor trailers, MB ploughs, Spring Cultivators, Reversible Ploughs and Disc Harrow. Currently, the company is into the job work to ancillaries unit of auto industry.
