Bharat Forge rises on getting nod for additional investment in Kalyani Powertrain
Bharat Forge is currently trading at Rs. 1367.50, up by 19.90 points or 1.48% from its previous closing of Rs. 1347.60 on the BSE.
The scrip opened at Rs. 1349.20 and has touched a high and low of Rs. 1372.00 and Rs. 1349.20 respectively. So far 3546 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. 1063.40 on 13-Feb-2024.
Last one week high and low of the scrip stood at Rs. 1384.95 and Rs. 1318.85 respectively. The current market cap of the company is Rs. 65232.80 crore.
The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 45.19% and 9.55% respectively.
Bharat Forge has received approval for additional investment in the equity shares of Kalyani Powertrain (KPTL) by way of right issue. KPTL is a public limited company and a wholly owned subsidiary of the company which houses electric vehicle (EV) and e-mobility initiatives of the company.
The current tranche of investment will be completed by December 31, 2024. The Investment Committee (Strategic Business) of the Company, at its meeting held on December 13, 2024, approved the same.
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.
