Kalyani Forge surges 5% on revenue boost

Shares of Pune-based Kalyani Forge have surged by almost 5% to Rs 277 on the Bombay Stock Exchange (BSE) after the company plans to double turnover to Rs 500 crore in the next 2-3 years by entering a new product range and expansion.

"We are looking at achieving turnover of Rs 500 crore in the next 2-3 years from the present Rs 250 crore through organic growth. We are expanding our machined components capacity by 25 per cent, which is expected to be ready by the current fiscal year", Kalyani Forge Executive Director Viraj G Kalyani told PTI here.

The company has identified 4 business verticals for growth and proposes to deliver value added solutions to the customers by supplying semi-finished or ready to assemble parts, Kalyani said. CLICK HERE FOR FULL STORY

The stock opened at Rs 277 in the morning trades on the BSE. At 9:55 am, over 100 shares changed hands on the counter of NSE and BSE.