 "Bharat Forge hits new high on signing multi-year contract with Boeing")
Shares of Bharat Forge were trading higher by 3.5% at Rs 1,265 on NSE after the company announced 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.
Under the agreement, Bharat Forge will begin supplying pre-machined forgings from its facilities in Pune and Baramati to Boeing in the first quarter of 2016, the company said in a release.
It said the titanium parts will be heat-treated, shaped in a forging press, and machined by Bharat Forge before being shipped to Boeing Portland for finish machining into components.
The stock opened at Rs 1,254 and hit a new high of Rs 1,281 on NSE. A combined 372,000 shares changed hands on the counter till 0921 hours on NSE and BSE.
Under the agreement, Bharat Forge will begin supplying pre-machined forgings from its facilities in Pune and Baramati to Boeing in the first quarter of 2016, the company said in a release.
It said the titanium parts will be heat-treated, shaped in a forging press, and machined by Bharat Forge before being shipped to Boeing Portland for finish machining into components.
The stock opened at Rs 1,254 and hit a new high of Rs 1,281 on NSE. A combined 372,000 shares changed hands on the counter till 0921 hours on NSE and BSE.
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