Bharat Forge Limited informed the exchanges on Wednesday that total 20 employees opted for the Voluntary Retirement Scheme (VRS) of the company which involved overall pay-out cost of Rs2.91cr. The company had implemented VRS from July 4, 2020.
Further, the automobile and ancillaries company has announced new VRS for its eligible employees who have completed 10 years of service with the company. The Scheme is effective from November 11, 2020.
At around 11.04 am, Bharat Forge Ltd was trading at Rs496.90 per piece down by Rs2.9 or 0.58% from its previous closing of Rs499.80 per piece on the BSE.
The scrip opened at Rs495 and has touched a high and low of Rs508.25 and Rs494.30 respectively.