Bharat Forge up 8.5% on fund-raising plan

Bharat Forge shares spurted 8.5 per cent to Rs 229.7 on fund-raising plans for expansion. The world’s second largest forgings maker would raise upto $150 million via issue of equity or equity linked securities.

The company may use the funds to strengthen manufacturing capabilities in the non-automotive sector in India. The stock made an intraday high of Rs 233.95 and a low of Rs 210. Total traded volumes in Tuesday’s trade stood at 4.8 lakh shares.