Bharat Forge gains as its arm enters into JV agreement with DUMA
Bharat Forge is currently trading at Rs. 1166.40, up by 6.80 points or 0.59% from its previous closing of Rs. 1159.60 on the BSE.
The scrip opened at Rs. 1196.95 and has touched a high and low of Rs. 1196.95 and Rs. 1162.05 respectively. So far 16912 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1826.20 on 21-Jun-2024 and a 52 week low of Rs. 1001.80 on 28-Feb-2025.
Last one week high and low of the scrip stood at Rs. 1227.95 and Rs. 1131.55 respectively. The current market cap of the company is Rs. 56364.26 crore.
The promoters holding in the company stood at 44.07%, while Institutions and Non-Institutions held 46.38% and 9.55% respectively.
Bharat Forge’s wholly-owned defence subsidiary -- Kalyani Strategic Systems (KSSL) has entered into a joint venture agreement (JV Agreement) with Duma Engineering Group S.L. (DUMA), for formation of a new joint venture company (JV Company) in Spain. This joint venture aims to collaborate for developing technology, product platforms and solutions relating to defence products to address Indian, European and certain other export markets.
As per the JV Agreement, KSSL and DUMA will hold 90% and 10% equity stake, respectively in JV Company, subject to fulfillment of conditions specified in the JV Agreement.
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.
