Bharat Forge promoter Ajinkya Investment offloads 1% stake worth ₹350 crore
Premium- The stake sold was worth ₹349.57 crore. Ajinkya Investment & Trading Co. held 4.22% stake in the company as of March 2021
MUMBAI : Promoter Ajinkya Investment & Trading Co. has sold 1% equity stake in Bharat Forge Ltd on Friday, the automotive forgings maker, via an open market transaction.
Ajinkya Investment & Trading Co. sold 4.66 million equity shares or 1% of the total paid-up equity in pune-based forgings giant at an average price ₹750.80 per share, according to the bulk deals data available on the exchange.
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The stake sold was worth ₹349.57 crore. Ajinkya Investment & Trading Co. held 4.22% stake in the company as of March 2021.
Bharat Forge reported a consolidated net profit of ₹212.12 crore for quarter ended 31 March 2021 against a net loss ₹68.59 crore in the year-ago period. Consolidated revenue from operations rose 19.57% to ₹2082.85 crore for the March 2021 quarter over ₹1741.92 crore in the same period a year ago.
From the beginning of the calendar year, Bharat Forge gained 42.38% against a rise of 13% in the benchmark index, Nifty.
At close, Bharat Forge declined 1.38% to ₹747.90 on Friday on NSE, while the benchmark index, Nifty gained 0.39% to close at 15,799.35 points.
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