KPIT Technologies announced that the company has acquired 50% stake held by Bharat Forge in Impact Automotive Solutions, an equal joint venture between the company and Bharat Forge, formed for the manufacture of hybrid solutions for automotives.

The stake was acquired by the company for Rs 108 million. After this transaction, Impact Automotive Solutions has become a wholly owned subsidiary of the company.

Shares of the company gained Rs 2.9, or 1.82%, to trade at Rs 162.20. The total volume of shares traded was 185,143 at the BSE (1.12 p.m., Tuesday).