Bharat Forge shares down 2.21% as Nifty drops
Bharat Forge Ltd. traded 2.21 per cent down in Monday's trade at 01:19PM (IST). Around 33,349 shares changed hands on the counter.
The counter opened at Rs 970.0 and touched an intraday high and low of Rs 970.0 and Rs 948.05, respectively, in the session so far. The stock of Bharat Forge Ltd. quoted a 52-week high of Rs 970.0 and a 52-week low of Rs 677.85.
As per BSE, the total market cap of the Bharat Forge Ltd. stood at Rs 44279.81 crore at the time of writing this report.Key Financials The company reported consolidated net sales of Rs 3941.42 crore for the quarter ended 30-Jun-2023, up 6.9 per cent from previous quarter's Rs 3686.85 crore and up 36.66 per cent from the year-ago quarter's Rs 2884.04 crore. The net profit for latest quarter stood at Rs 223.4 crore, up 35.85 per cent from the corresponding quarter last year.Shareholding pattern As of 30-Jun-2023, DIIs held 20.28 per cent stake in the firm, while foreign institutional investors held 15.79 per cent and the promoters 45.25 per cent.Valuation ratio According to BSE data, the stock traded at a P/E multiple of 63.04 and a price-to-book ratio of 5.35.
A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.Bharat Forge Ltd. belongs to the Auto Ancl — Others industry.
. Read more on economictimes.indiatimes.com
