** Shares of Bharat Forge BFRG.NS gain as much as 3.3% to 1,139.6 rupees; last up 2.6%
** India's competition regulator approved BFRG's proposed acquisition of AAM India Manufacturing Corp, unit of U.S.-based auto parts maker American Axle and Manufacturing AXL.N
** BFRG in October proposed to acquire AAM India at enterprise value of 5.45 billion rupees (~$64 million)
** Analysts' avg. rating on stock is "hold", median PT is 1,170 rupees - data compiled by LSEG
** Stock down ~15% YTD
($1 = 85.4675 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
((Manvi.Pant@thomsonreuters.com; +918447554364))
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