Bharat Forge inks pact with General Atomics for collaboration in Li-Ion battery system

A non-binding Memorandum of Understanding ("MoU") had been entered into between the Company and General Atomics ("GA") (collectively "the Parties") on February 05, 2020 with an intent to initiate preliminary discussions and explore possible collaboration for possible projects.

On March 28, 2022, the MoU was amended to include collaboration towards, permanent magnet motors. Further, on October 18, 2022, an addendum to the MoU was executed to enable participation by the Parties towards a likely Request for Proposal ("RFP") for procurement of Li-Ion Batteries.

Shares of Bharat Forge Limited was last trading in BSE at Rs. 778.75 as compared to the previous close of Rs. 788.80. The total number of shares traded during the day was 20519 in over 1055 trades.

The stock hit an intraday high of Rs. 794.70 and intraday low of 772.95. The net turnover during the day was Rs. 16105743.00.

Source : Equity Bulls

Keywords

BharatForge INE465A01025 MoU GeneralAtomics LiIon BatterySystem