Bharat Forge gained on Friday after the company's German Subsidiary; CDP Bharat Forge, acquired 100% equity shares of Mecanique Generale Langroise (MGL).

MGL based in Saint Goesmes, France is a strong technology oriented company focused on precision machining and other high value added processes like cladding for critical application in the oil & gas industry.

This acquision is largely focused on further consolidating BFL position in the oil & gas space by enhancing service offerings and geographical reach. This also brings BFL closer to its customers and increases the value addition provided to them.

Baba N Kalyani, chairman & managing director of Bharat Forge said, "The acquisition of MGL is in line with our strategy of moving up the value chain in the industrial business. This acquisition enhances BFL's ability to provide turnkey solution and simultaneously strengthens the product offering in the oil and gas sector.

Shares of the company gained Rs 13.85, or 1.47%, to trade at Rs 956.15. The total volume of shares traded was 41,171 at the BSE (2.11 p.m., Friday).

The scrip has touched an intra-day high of Rs 959.65 and low of Rs 939.00. The total volume of shares traded at the BSE is 41,171.