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Balu Forge Industries Ltd executes agreement with Hilton Metal Forging Ltd

Posted On: 2021-10-15 16:31:47 (Time Zone: IST)

The Board of Directors of Balu Forge Industries Ltd at their Meeting held on 15th October, 2021 have executed a Leave & License Agreement between the Company and Hilton Metal Forging Limited for taking on Leave and License basis the Hilton's Factory situated at Shah & Mehta Industrial Estate, Plot No.28, 29, Village Ghonsai, Taluka Wada, District Palghar, Pin code - 421312, Maharashtra for a period of five (5) years on the terms and conditions as mentioned in the said agreement.

The Licensor is engaged in the business of manufacturing of forging parts, including forged engineered products forged from steel, stainless steel, aluminum, titanium, buttweld fittings, etc., also including products of stainless steel flanges, crankshafts, applications in the railway industry, defense industry, public utility works, flanges and valves, gaskets, applications in oil and natural gas industry, hydraulic fittings, connecting rods, front axles, stub ends, products forged from all alloy and non-alloy composition, etc.

The Licensee is engaged in the business of machining and manufacturing of all kinds of forged components including machining of crankshafts, front axles, flanges, valves, connecting rods, applications in automobile industry, railway industry, defence industry, oil and natural gas industry and applications in public utility.

Shares of Balu Forge Industries Ltd was last trading in BSE at Rs. 263.30 as compared to the previous close of Rs. 261.00. The total number of shares traded during the day was 47 in over 5 trades.

The stock hit an intraday high of Rs. 263.30 and intraday low of 260.00. The net turnover during the day was Rs. 12234.00.

Shares of Hilton Metal Forging Limited was last trading in BSE at Rs. 13.17 as compared to the previous close of Rs. 13.20. The total number of shares traded during the day was 3154 in over 17 trades.

The stock hit an intraday high of Rs. 13.40 and intraday low of 12.71. The net turnover during the day was Rs. 41453.00.

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