Bharat Forge shines on plan of acquiring company based out of North America

Bharat Forge is currently trading at Rs. 898.85, up by 35.90 points or 4.16% from its previous closing of Rs. 862.95 on the BSE.

The scrip opened at Rs. 862.55 and has touched a high and low of Rs. 902.50 and Rs. 844.10 respectively. So far 106025 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 979.35 on 10-Oct-2016 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. 904.00 and Rs. 765.95 respectively. The current market cap of the company is Rs. 20661.66 crore.

The promoters holding in the company stood at 46.74%, while institutions and non-institutions held 33.61% and 19.64% respectively.

Bharat Forge is planning acquire a target entity based out of North America, engaged in automotive and industrial forgings, through its wholly owned subsidiary, Bharat Forge America Inc., USA. In this regard, the company has scheduled the meeting of Finance and Risk Management Committee on November 18, 2016.

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.