Bharat Forge gains after tie up with Rolls-Royce

Bharat Forge rose 1.27% to Rs 803.10 at 12:02 IST on BSE after the company said it formalised a significant supply agreement with Rolls-Royce for supply of aero engine components.

The announcement was made during trading hours today, 10 December 2015.

Meanwhile, the BSE Sensex was up 91.61 points, or 0.37%, to 25,127.66.

On BSE, so far 57,000 shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 815.70 and a low of Rs 788.90 so far during the day. The stock hit a 52-week high of Rs 1,362.90 on 6 April 2015. The stock hit a 52-week low of Rs 772.85 on 9 December 2015.

Bharat Forge announced that it has formalised an agreement for long term supply of aero engine components to Rolls-Royce. The agreement envisages supply of critical and high integrity forged and machined components for a range of aero engines including the flagship Trent engine. Bharat Forge Chairman and Managing Director B.N. Kalyani said that it is the company's strategic intent to play a significant role in global aerospace supply chain with forged and machined products and assemblies. This supply-chain partnership with Rolls-Royce is a momentous step towards achieving the company's stated goal of $100 million in revenue from the aerospace sector, he said.

Bharat Forge's net profit rose 0.33% to Rs 175.06 crore on 1.54% decline in net sales to Rs 1091.85 crore in Q2 September 2015 over Q2 September 2014.

Bharat Forge (BFL) is the flagship company of the $3 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

Powered by Capital Market - Live News