Bharat Forge inches up on inking MoU with VEDA Aeronautics (P)
Bharat Forge is currently trading at Rs. 1076.00, up by 0.15 points or 0.01% from its previous closing of Rs. 1075.85 on the BSE.
The scrip opened at Rs. 1080.00 and has touched a high and low of Rs. 1105.95 and Rs. 1059.90 respectively. So far 66039 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. 1047.25 on 13-Feb-2025.
Last one week high and low of the scrip stood at Rs. 1148.60 and Rs. 1047.25 respectively. The current market cap of the company is Rs. 51573.81 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 and VEDA Aeronautics (P) (VEDA), an Indian Aerospace & Defence company involved in development and supply of Unmanned Systems, have signed a Memorandum of Understanding (MoU) to develop state-of-the-art Unmanned Aerial Vehicles (UAV) & other High-Speed Aerial Weapon systems used in the battlefield.
While VEDA has been engaged in shaping the unmanned system technology for defence services, the company will supply the micro jet engines used in these unmanned systems. The MoU is expected to play a vital role in leveraging each other’s capabilities to strengthen India’s defense capabilities and contributing to national self-reliance.
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.
