 "Kalyani Group shares rally; BF Utilities surges 12%")
Shares of Baba Kalyani-promoted Kalyani Group are in demand and trading higher by up to 20% on the bourses in otherwise subdued market.
BF Investments (up 20% at Rs 125), BF Utilities (12% at Rs 654), Kalyani Steels (11% at Rs 151) and Bharat Forge (2% at Rs 1,246) are up 2-20% on the BSE. The S&P BSE Sensex was down 0.30% or 89 points at 29,232 at 1200 hours.
However, Hikal and Automotive Axles are down 2% each at Rs 751 and Rs 736 respectively.
The Kalyani Group is focused in four primary sectors, viz. engineering steel, automotive & non-automotive components, renewable energy & infrastructure and specialty chemicals.
According to media reports, Kalyani Group on Thursday announced a joint venture with Israel’s Rafael Advanced Defence Systems Israel to develop and manufacture a wide range of technology and systems.
Last month, the group announced that it will invest Rs 600 crore in a defence manufacturing facility at Dholera in Gujarat.
Meanwhile, on Wednesday, after market hours, Bharat Forge announced that 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.
Shares of Bharat Forge were rallied nearly 5% to Rs 1,281, also its fresh record high on BSE.
BF Investments (up 20% at Rs 125), BF Utilities (12% at Rs 654), Kalyani Steels (11% at Rs 151) and Bharat Forge (2% at Rs 1,246) are up 2-20% on the BSE. The S&P BSE Sensex was down 0.30% or 89 points at 29,232 at 1200 hours.
However, Hikal and Automotive Axles are down 2% each at Rs 751 and Rs 736 respectively.
The Kalyani Group is focused in four primary sectors, viz. engineering steel, automotive & non-automotive components, renewable energy & infrastructure and specialty chemicals.
According to media reports, Kalyani Group on Thursday announced a joint venture with Israel’s Rafael Advanced Defence Systems Israel to develop and manufacture a wide range of technology and systems.
Last month, the group announced that it will invest Rs 600 crore in a defence manufacturing facility at Dholera in Gujarat.
Meanwhile, on Wednesday, after market hours, Bharat Forge announced that 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.
Shares of Bharat Forge were rallied nearly 5% to Rs 1,281, also its fresh record high on BSE.
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