Bharat Forge is currently trading at Rs. 403.00, up by 5.95 points or 1.50% from its previous closing of Rs. 397.05 on the BSE.
The scrip opened at Rs. 396.50 and has touched a high and low of Rs. 404.45 and Rs. 386.50 respectively. So far 47326 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 660.95 on 18-Sep-2018 and a 52 week low of Rs. 378.00 on 04-Sep-2019.
Last one week high and low of the scrip stood at Rs. 416.75 and Rs. 386.50 respectively. The current market cap of the company is Rs. 18344.19 crore.
The promoters holding in the company stood at 45.76%, while Institutions and Non-Institutions held 32.53% and 21.71% respectively.
Bharat Forge’s wholly owned subsidiary — Bharat Forge America is setting up a green-field forging and machining facility in North Carolina. The modern facility will address the Aluminium opportunity and have state of the art technology and processes. The 1st phase of the project involves approximately $56 million capital investment. This investment is backed up by orders already secured from prestigious OEM’s and has been achieved by leveraging our R&D capabilities.
As the order book ramps up in the years ahead, the company envisages enhancing the capacity through an investment of similar quantum in the coming years. This investment is a key cornerstone of its strategy of enhancing focus on lightweight materials and improving the financial parameters of the overseas operations. It will help the company to create a strong global manufacturing footprint as part of its Aluminium strategy, spanning Europe, Asia and the United States.
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.