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What is the story about?
Shares of Bharat Forge Ltd. declined nearly 3% on Thursday, April 9, as the company reviewed and evaluated the proposal for the phased restructuring of its steel forging operations in Germany.
The proposal may include the wind-down and solvent liquidation of Germany's steel forging operations (BF CDP). The proposal is being considered due to market challenges and cost disadvantages faced by BF CDP.
Bharat Forge's board has approved the financing agreement of up to €30 million to facilitate the proposed restructuring.
On another note,last month, Bharat Forge's board approved an investment of up to €15 million (about ₹160 crore) in its wholly owned German subsidiary Bharat Forge Global Holding GmbH through an equity capital infusion.
The proposed investment would be made in the form of equity subscription and is aimed at supporting overseas investments and strengthening the group's global operations.
Last month, the company also approved raising an unsecured rupee term loan of up to ₹800 crore, within the ₹2,000 crore overall limit previously cleared by its board.
Shares of Bharat Forge are trading 2.6% lower on Thursday at ₹1,734.7. The stock has declined 7% over the last one month.
The proposal may include the wind-down and solvent liquidation of Germany's steel forging operations (BF CDP). The proposal is being considered due to market challenges and cost disadvantages faced by BF CDP.
Bharat Forge's board has approved the financing agreement of up to €30 million to facilitate the proposed restructuring.
On another note,last month, Bharat Forge's board approved an investment of up to €15 million (about ₹160 crore) in its wholly owned German subsidiary Bharat Forge Global Holding GmbH through an equity capital infusion.
The proposed investment would be made in the form of equity subscription and is aimed at supporting overseas investments and strengthening the group's global operations.
Last month, the company also approved raising an unsecured rupee term loan of up to ₹800 crore, within the ₹2,000 crore overall limit previously cleared by its board.
Shares of Bharat Forge are trading 2.6% lower on Thursday at ₹1,734.7. The stock has declined 7% over the last one month.
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