/ Bharat Forge soars on acquiring 34.53% stake in Tevva ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 13 June 2018

Bharat Forge is currently trading at Rs. 665.00, up by 11.80 points or 1.81% from its previous closing of Rs. 653.20 on the BSE.The scrip opened at Rs. 660.00 and has touched a high and low of Rs. 668.20 and Rs. 653.60 respectively. So far 23555 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 799.65 on 01-Mar-2018 and a 52 week low of Rs. 526.50 on 28-Jun-2017.Last one week high and low of the scrip stood at Rs. 668.20 and Rs. 642.50 respectively. The current market cap of the company is Rs. 30961.64 crore.

The promoters holding in the company stood at 45.75%, while Institutions and Non-Institutions held 34.06% and 20.10% respectively.Bharat Forge has entered into an Investment Agreement on June 11, 2018 with Tevva Motor (Jersey) (TEVVA), Bharat Forge International, UK and existing shareholders of TEVVA.

Pursuant to the said Agreement, the company has acquired 34.53% and Bharat Forge International, UK, (a wholly-owned subsidiary of the company) has acquired 0.73% stake in TEVVA, aggregating to combined stake of 35.26%.

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.

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