Bharat Forge is trading higher by 3% at Rs 428 after the company said that its German subsidiary, Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multiyear contract worth EUR 250 million from a German OEM to supply suspension components.
The suspension components are based on technology industrialized by BFAT over the past few years. The industrialisation of this technology has put BFAT at the forefront of aluminium component industry witnessing huge demand globally, said the company.
According to the Management, BFAT over the past few years has developed a unique technology which has put the company at the forefront in the fast growing aluminum component industry which is finding increasing use in the passenger vehicles.
Analyst at Angel Broking maintains positive view on the company and maintains Buy rating on the stock with a target price of Rs 485.
The stock opened at Rs 428 and touched high of Rs 429 on the NSE. A combined 359,000 shares changed hands on the counter so far on the NSE and BSE.
The suspension components are based on technology industrialized by BFAT over the past few years. The industrialisation of this technology has put BFAT at the forefront of aluminium component industry witnessing huge demand globally, said the company.
According to the Management, BFAT over the past few years has developed a unique technology which has put the company at the forefront in the fast growing aluminum component industry which is finding increasing use in the passenger vehicles.
Analyst at Angel Broking maintains positive view on the company and maintains Buy rating on the stock with a target price of Rs 485.
The stock opened at Rs 428 and touched high of Rs 429 on the NSE. A combined 359,000 shares changed hands on the counter so far on the NSE and BSE.