Bharat Forge, Pune based forging company, announced that the company has divested its 50% stake in Impact Automotive Solutions, which was formed, earlier in 2010 as a JV with KPIT Technologies. The JV was formed for the manufacture of hybrid solutions for automotive.

The stake was sold by the company to the other JV Partner, KPIT Technologies for Rs 108 million against an initial investment of Rs 149.1 million.

Shares of the company declined Rs 3.65, or 0.43%, to trade at Rs 854.75. The total volume of shares traded was 4,099 at the BSE (9.27 a.m., Monday).