Bharat Forge forms wholly-owned subsidiary 'Kalyani Lightweighting Technology Solutions'; Stock gains 1%

13 Jul 2022 , 02:20 PM

Bharat Forge Ltd has informed that the company has incorporated a wholly-owned subsidiary in the name of “Kalyani Lightweighting Technology Solutions Limited” on July 12, 2022.

As per regulatory filing, KLTSL has been incorporated with a view of creating a separate vertical for aluminium business and for light weighting technology.

KLTSL will focus on the manufacturing of aluminium components for automotive & industrial applications and carry out research and development activity on light weighting through new materials and technologies, the company said on Wednesday.

At around 2:20 PM, Bharat Forge was trading at Rs640.20 per share up by Rs6.9 or 1.09% from its previous closing of Rs633.30 per share on the BSE.