Bharat Forge shares down 2.26% as Nifty drops
Bharat Forge Ltd. traded 2.26 per cent down in Wednesday's trade at 12:38PM (IST). Around 28,126 shares changed hands on the counter.
The counter opened at Rs 925.15 and touched an intraday high and low of Rs 933.8 and Rs 909.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 933.8 and a 52-week low of Rs 677.85.
Total market cap of the Bharat Forge Ltd. stood at Rs 42380.21 crore at the time of writing this report.Key Financials The company reported consolidated sales of Rs 3686.85 crore for the quarter ended 31-Mar-2023, up 8.76 per cent from previous quarter's Rs 3389.95 crore and up 0.84 per cent from the year-ago quarter's Rs 3656.05 crore. The net profit for latest quarter stood at Rs 250.62 crore, up 6.32 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 65.86 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.
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