Bharat Forge surges as its JV secures order worth Euro 130 million from NTPC

Bharat Forge surges as its JV secures order worth Euro 130 million from NTPC

Sep 25,2014   03:06 Hrs IST

Bharat Forge is currently trading at Rs. 797.90, up by 4.25 points or 0.54% from its previous closing of Rs. 793.65 on the BSE. The scrip opened at Rs. 792.00 and has touched a high and low of Rs. 815.75 and Rs. 782.50 respectively. So far 124056 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 934.40 on 11-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. 878.00 and Rs. 784.15 respectively. The current market cap of the company is Rs. 18483.87 crore. The promoters holding in the company stood at 46.74% while Institutions and Non-Institutions held 30.60% and 22.65% respectively. Alstom Bharat Forge Power (ABFPL), the joint venture (JV) between Bharat Forge and Alstom, has bagged contract worth around Euro 130 million from NTPC. The order is for supply of two units of 660 MW supercritical turbine islands for NTPC’s Tanda coal power plant in Uttar Pradesh. The scope of work comprises, engineering, manufacturing, supply and commissioning of the two turbine islands and auxiliaries for the plant. The equipment for the project will be made at ABFPL’s manufacturing facility at Sanand, Gujarat, which is to be commissioned in October 2014. 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.