Bharat Forge Ltd had earlier announced regarding execution of Joint Venture Agreement between the Company and Refu Electronik GmbH, Germany and its Affiliates/ Promoters ("REFU").
REFU has incorporated a company under the laws of Germany in the name of Refu Drive GmbH and has fulfilled the conditions as mentioned in the Share Purchase Agreement and Joint Venture Agreement ("Transaction Documents").
Upon fulfillment of the conditions as mentioned in the Transaction Documents, the Company on September 19, 2019 has invested EUR 11.35 Million and acquired 50% stake in Refu Drive GmbH.
Shares of BHARAT FORGE LTD. was last trading in BSE at Rs.394 as compared to the previous close of Rs. 399.85. The total number of shares traded during the day was 30649 in over 661 trades.
The stock hit an intraday high of Rs. 406.2 and intraday low of 390.45. The net turnover during the day was Rs. 12232564.