Bharat Forge moves up on entering into BTA to transfer defence business to KSSL
Bharat Forge is currently trading at Rs. 1148.05, up by 9.25 points or 0.81% from its previous closing of Rs. 1138.80 on the BSE.
The scrip opened at Rs. 1128.75 and has touched a high and low of Rs. 1149.00 and Rs. 1103.00 respectively. So far 34623 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1654.10 on 09-Aug-2024 and a 52 week low of Rs. 919.10 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 1193.90 and Rs. 1103.00 respectively. The current market cap of the company is Rs. 54576.21 crore.
The promoters holding in the company stood at 44.07%, while Institutions and Non-Institutions held 45.78% and 10.15% respectively.
Bharat Forge has entered into Business Transfer Agreement (BTA) with Kalyani Strategic Systems (KSSL), a wholly-owned subsidiary of the Company for transfer of identified assets and other related obligations relating to the defence business of the Company to KSSL on an itemized sale basis for a consideration of Rs 453.30 crore. The company and KSSL have also entered into a intellectual property rights licensing 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.
