Bharat Forge gains on bagging order from Boeing

The stock moved higher by 3% to Rs 817, recovering 4% from intra-day's low on the National Stock Exchange.

Bharat Forge has moved higher by 3% to Rs 817, recovering 4% from intra-day’s low on the National Stock Exchange (NSE), after the company said that it has been awarded a contract from Boeing for supply of 777X titanium forging.

“The company has entered into a contract with Boeing for developing and manufacturing 777X titanium forging,” Bharat Forge said in a release.

Bharat Forge has started supplying titanium forged flap tracks for the Boeing Next Generation 737 airplane earlier this year. The company will also supply forgings for the 737 MAX, scheduled to enter service in 2017, it added.

The stock hit an intra-day low of Rs 786 on the BSE. A combined 650,000 shares changed hands on the counter on the BSE and NSE.