Bharat Forge is currently trading at Rs. 1025.50, up by 7.25 points or 0.71% from its previous closing of Rs. 1018.25 on the BSE.
The scrip opened at Rs. 1025.00 and has touched a high and low of Rs. 1030.35 and Rs. 1024.50 respectively. So far 1,397 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1050.00 on 15-Feb-2017 and a 52 week low of Rs. 686.80 on 24-Jun-2016.
Last one week high and low of the scrip stood at Rs. 1050.00 and Rs. 1004.45 respectively. The current market cap of the company is Rs. 23,873.00 crore.
The promoters holding in the company stood at 45.75%, while Institutions and Non-Institutions held 34.98% and 19.27% respectively.
Bharat Forge’s subsidiary - Kalyani Strategic Systems (KSSL), the defense arm of Kalyani Group and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU) to incorporate a Joint Venture Company (JVC) in India.
As part of the MoU, IAI and KSSL are aiming to expand their presence in the Indian defense market and to Build, Market and Manufacture specific Air Defense Systems and Ground to Ground & Ground to Sea Munitions. The MoU is the first step of a process to establish a JVC between the two companies. The JVC will integrate strategic state-of-the-art defense systems for the Indian MoD in accordance with the Indian Government’s ‘Make in India’ policy.
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.
