Bharat Forge gains on making additional investment of $40 million in Bharat Forge America
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Bharat Forge is currently trading at Rs. 1711.55, up by 15.20 points or 0.90% from its previous closing of Rs. 1696.35 on the BSE.
The scrip opened at Rs. 1721.75 and has touched a high and low of Rs. 1732.00 and Rs. 1709.25 respectively. So far 2148 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1739.00 on 14-Jun-2024 and a 52 week low of Rs. 800.00 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1739.00 and Rs. 1624.10 respectively. The current market cap of the company is Rs. 78980.13 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 44.71% and 10.03% respectively.
Bharat Forge has made an additional investment of $40 million in Bharat Forge America Inc. (BFA) a wholly owned subsidiary of the company on June 18, 2024. This investment falls within the pre-approved limits of the board resolution dated November 14, 2022. The funds are intended for further investment by BFA into its wholly-owned subsidiary - Bharat Forge Aluminum USA Inc. (BFAL), to facilitate BFAL’s capital expenditure for aluminum forging facility.
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.
