Bharat Forge completes acquisition of Walker Forge Tennessee, PMT Holdings

India Infoline News Service | Mumbai | December 02, 2016 10:43 IST

With the completion of this transaction, both Walker Forge Tennessee LLC and PMT Holdings Inc., USA have become indirect subsidiaries of Bharat Forge with effect from December 1, 2016.

Bharat Forge
Bharat Forge has completed acquisition of Walker Forge Tennessee LLC and PMT Holdings Inc., USA through its wholly-owned subsidiary, Bharat Forge America Inc., USA, on December 1, 2016, for a total consideration of $14 million.

With the completion of this transaction, both Walker Forge Tennessee LLC and PMT Holdings Inc., USA have become indirect subsidiaries of Bharat Forge with effect from December 1, 2016. Walker Forge Tennessee LLC has been renamed as Bharat Forge PMT Technologie LLC and PMT Holding Inc. has been renamed as Bharat Forge Tennessee Inc.

Stock Commentary:

Bharat Forge Ltd is currently trading at Rs 894.95, down by Rs 2.75 or 0.31% from its previous closing of Rs 897.7 on the BSE.

The scrip opened at Rs 894.2 and has touched a high and low of Rs 906.95 and Rs 892.05 respectively. So far 270297 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 20898.46 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 979.35 on 10-Oct-2016 and a 52 week low of Rs 686.8 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 931.5 and Rs 884.15 respectively.

The promoters holding in the company stood at 46.74 % while Institutions and Non-Institutions held 33.61 % and 19.64 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get IIFL express personal loan disbursal in just 8* hours...Know More
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.