Sundaram Trading and Investment has purchased 1.06% stake of Pune-based auto component-maker Bharat Forge for Rs 65.47 crore through open market route. Sundaram Trading, a promoter entity, has picked up 24,89,525 shares of the company at an average price of Rs 263.
Last week, Sundaram Trading bought 84.31 lakh shares of the auto component maker for an estimated Rs 250 crore through open market route. As of June quarter, Sundaram Trading held 2.09 crore shares, equivalent to 9.01% holding, of Bharat Forge.
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.
