Bharat Forge shares gained as much as 2.55 per cent on Tuesday after the company informed bourses that it has entered into a contract with Boeing for developing and manufacturing 777X titanium forgings. BFL has started supplying titanium forged flap tracks for the Boeing Next Generation 737 airplane earlier this year. BFL will also supply forgings for the 737 MAX, scheduled to enter service in 2017.
At 11.58 pm, shares of Bharat Forge (BFL) were trading 2.09 per cent up at Rs 813. The scrip opened at Rs 792 and has touched a high and low of Rs 816.65 and Rs 785.50, respectively, in trade so far.
This second contract with Boeing brings to forefront BFL’s capabilities in precision manufacturing techniques to offer high end technology and value in the aerospace sector. Boeing and BFL continue to address opportunities to expand BFL work in support of Boeing and its supply chain partners around the world.
Bharat Forge is the flagship company of the $3.0 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.
The promoters holding in the company stood at 46.74 per cent while institutions and non-institutions held 32.54 per cent and 20.72 per cent respectively.
Later, the scrip closed 1.47 per cent up at Rs 808.05.