Bharat Forge share price rose almost 2 per cent to hit its fresh 52-week high of ₹1,096 in intraday trade on BSE on Monday. The stock opened at ₹1,086 against the previous close of ₹1,078.15 and rose 1.7 per cent to scale its fresh one-year peak of ₹1,096. Over the past year, the shares of a diversified company with interests spanning multiple sectors, including automotive, railways, defence, construction, mining, aerospace, marine, and oil and gas, have been on a remarkably bullish trajectory.
The stock has demonstrated an impressive surge, registering an impressive 42 per cent increase in value within this timeframe. This performance stands in stark contrast to the broader equity benchmark, the Sensex, which has posted a more modest gain of approximately 11 per cent during the same period. The stock has seen a remarkable acceleration in the last three months.
During this relatively short span, the company's stock has experienced a meteoric rise of nearly 36 per cent, showcasing a robust and sustained momentum that has captured the attention of investors and market observers alike. The stock has been gaining as it is a major player for the defence sector and investor sentiment for the sector has been bullish of late. Recently, its defence arm, Kalyani Strategic Systems Ltd received two export orders worth ₹850 crore.
According to the company's exchange statement, its wholly-owned defence arm received two export orders totalling EUR 93.87 million (about ₹850 crores) from friendly nations for the delivery of parts and armoured vehicle chassis to be carried out over an 18-month period. Meanwhile, Bharat Forge's June quarter numbers came on a healthy line. The company reported a 34 per cent year-on-year increase in
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