Bharat Forge gains as arm divests stake in JV

Shares of Bharat Forge were up over 2.5% at Rs 931 after the company in a release after market hours on Wednesday announced that its arm has divested stake.

The company's subsidiary BF Infrastructure Ventures Ltd has divested its 50% stake in its JV (David Brown Forge Gear Systems India Ltd) to its joint venture partner, David Brown Systems India (Holdings) Ltd for a consideration of Rs 3.09 crore, Bharat Forge said in a release.

The stock opened at Rs 920 and touched a high of Rs 937. At 2:10PM, over 1.8 million shares were traded on both the stock exchanges.