Bharat Forge trades marginally higher as its arm inks pact to acquire 51% stake in Ferrovia

Bharat Forge is currently trading at Rs. 825.90, up by 1.80 points or 0.22% from its previous closing of Rs. 824.10 on the BSE.

Bharat Forge
Bharat Forge

The scrip opened at Rs. 831.90 and has touched a high and low of Rs. 834.00 and Rs. 821.45 respectively. So far 12371 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 919.50 on 15-Dec-2022 and a 52 week low of Rs. 595.85 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 837.35 and Rs. 813.00 respectively. The current market cap of the company is Rs. 38369.16 crore.

The promoters holding in the company stood at 45.25%, while Institutions and Non-Institutions held 44.15% and 10.59% respectively.

Bharat Forge’s wholly owned subsidiary — BF Infrastructure (BFIL) has executed a Share Purchase Agreement on February 28, 2023, with PNC Infratech (PNC) and Ferrovia Transrail Solutions (Ferrovia) for purchase of 51% shareholding in Ferrovia. Subsequent to the aforesaid acquisition, BFIL’s shareholding in Ferrovia will increase from 49% to 100% resulting in Ferrovia becoming a wholly owned subsidiary of BFIL and step-down subsidiary of the company. The transaction is expected to be completed on March 2, 2023.

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.

Leave a Comment