Bharat Forge jumps on completing first tranche investment in Aeron Systems

28 May 2019 Evaluate

Bharat Forge is currently trading at Rs. 498.15, up by 16.40 points or 3.40% from its previous closing of Rs. 481.75 on the BSE.

The scrip opened at Rs. 482.10 and has touched a high and low of Rs. 502.85 and Rs. 482.10 respectively. So far 109330 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 692.50 on 10-Sep-2018 and a 52 week low of Rs. 445.10 on 16-May-2019.

Last one week high and low of the scrip stood at Rs. 502.85 and Rs. 458.00 respectively. The current market cap of the company is Rs. 23209.59 crore.

The promoters holding in the company stood at 45.76%, while Institutions and Non-Institutions held 32.34% and 21.90% respectively.

Bharat Forge has completed Tranche I investment i.e. 17.8% (Investment of 17.8% in 58,500 equity shares of Rs 10 each at a premium of Rs 1015.64 each), in Aeron Systems.

Earlier, Bharat Forge had entered into a share subscription agreement with Aeron Systems and its founders on May 21, 2019, agreeing to subscribe to 97,500 equity shares of Rs 10 each for a stake of 26%. The Subscription is agreed to be subscribed in three tranches.

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

Bharat Forge Share Price

815.60 -2.15 (-0.26%)
09-Jun-2023 18:01 View Price Chart
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