Bharat Forge strengthens on divesting 50% stake in Impact Automotive Solutions

Bharat Forge strengthens on divesting 50% stake in Impact Automotive Solutions

Sep 08,2014   10:45 Hrs IST

Bharat Forge is currently trading at Rs. 866.95, up by 8.55 points or 1.00% from its previous closing of Rs. 858.40 on the BSE. The scrip opened at Rs. 860.05 and has touched a high and low of Rs. 870.25 and Rs. 850.00 respectively. So far 14756 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 875.50 on 05-Sep-2014 and a 52 week low of Rs. 244.00 on 30-Sep-2013. Last one week high and low of the scrip stood at Rs. 875.50 and Rs. 788.35 respectively. The current market cap of the company is Rs. 19948.14 crore. The promoters holding in the company stood at 46.74% while Institutions and Non-Institutions held 30.60% and 22.65% respectively. Bharat Forge has divested its 50 per cent stake in Impact Automotive Solutions, which was formed in 2010 as a joint venture with KPIT Technologies. The stake has been sold to KPIT Technologies for Rs 10.80 crore. The initial investment was Rs 14.91 crore. 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.