 "Premier engineering concern Bharat Forge has broadened its revenue streams by entering new non-auto segments and markets, resulting in the share of the auto business dropping to 58 per cent in the financial year 2024 (FY24) from 80 per cent (FY07). I")
Motilal Oswal Mutual Fund on Monday bought shares of forging and precision engineering firm Bharat Forge worth nearly Rs 378 crore through an open market transaction.
According to the bulk deal available on the NSE, Motilal Oswal Mutual Fund (MF) purchased nearly 32 lakh equity shares, or 0.65 per cent stake, in Pune-based Bharat Forge.
The shares were acquired at an average price of Rs 1,217.32 apiece, taking the transaction value to Rs 377.73 crore.
Details of the sellers of Bharat Forge's shares could not be ascertained on the National Stock Exchange (NSE).
Shares of Bharat Forge rose 0.94 per cent to close at Rs 1,192.20 apiece on the NSE.
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In a separate bulk deal on the NSE, Singapore-headquartered Amansa Capital purchased 12.82 lakh shares or 0.97 per cent stake in speciality chemicals maker Aether Industries for Rs 94 crore through an open market transaction.
The transaction was valued at around Rs 94.27 crore and was executed at a price of Rs 735 apiece.
Meanwhile, Goldman Sachs India Equity Portfolio, an affiliate of Goldman Sachs Asset Management, offloaded 11.51 lakh shares or 0.87 per cent in Aether Industries at an average price of Rs 735.01 per share.
Details of the other sellers of Aether Industries' shares could not be identified on the exchange.
On Monday, Aether Industries shares rose 1.42 per cent to settle at Rs 745.10 apiece on the NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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