Thursday , December 2 2021

Bharat Forge rises as its arm hikes stake in Tork Motors

Bharat Forge is currently trading at Rs. 746.55, up by 0.90 points or 0.12% from its previous closing of Rs. 745.65 on the BSE.

The scrip opened at Rs. 754.80 and has touched a high and low of Rs. 754.80 and Rs. 743.65 respectively. So far 11437 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 848.00 on 10-Nov-2021 and a 52 week low of Rs. 492.25 on 22-Dec-2020.

Last one week high and low of the scrip stood at Rs. 802.10 and Rs. 724.45 respectively. The current market cap of the company is Rs. 34965.71 crore.

The promoters holding in the company stood at 44.76%, while Institutions and Non-Institutions held 38.55% and 16.68% respectively.

Bharat Forge’s arm Kalyani Powertrain has hiked stake in electric two-wheeler maker Tork Motors to 60.66 per cent through conversion of debentures into equity shares.

Earlier this year, Bharat Forge had announced plans to house all of its electric vehicle (EV) business initiatives under Kalyani Powertrain (KPL), a wholly-owned subsidiary.

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.