Bharat Forge rose 4.04% to Rs 1273.05 at 9:50 IST on BSE after the company said it has signed a multi-year contract with Boeing Commercial Airplane to supply titanium forgings for wing components for the next-generation 737 and 737 MAX.
The announcement was made after market hours yesterday, 18 February 2015.
Meanwhile, the S&P BSE Sensex was up 109.83 points or 0.37% at 29,430.09.
On BSE, so far 89,000 shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past two weeks.
The stock hit a high of Rs 1,280.70 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,250.10 so far during the day. The stock had hit a 52-week low of Rs 359.90 on 19 February 2014.
Under the agreement with Boeing, Bharat Forge will begin supplying pre machined forgings from its facilities in Pune and Baramati to Boeing during Q1 June 2016.
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Bharat Forge's net profit surged 108.9% to Rs 196.34 crore on 41.2% growth in net sales to Rs 1142.09 crore in Q3 December 2014 over Q3 December 2013.
Bharat Forge is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, aerospace and rail marine.
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