Bharat Forge shares gain 0.87% as Sensex rises
Bharat Forge Ltd. traded 0.87 per cent higher in Friday's session at 12:58PM (IST).
The stock opened at Rs 908.0 and has touched an intraday high and low of Rs 918.4 and Rs 904.25, respectively, during the session so far. The stock quoted a 52-week high of Rs 937.65 and a 52-week low of 677.85.
About 10,346 shares changed hands on the counter so far. Benchmark Nifty50 was up 131.45 points at 19513.1, while the BSE Sensex traded 457.02 points higher at 65697.7 at the time of writing of this report.
In the Nifty pack, 35 stocks traded the day in the green, while 14 were in the red.Key Financials For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 3686.85 crore, up 8.76 per cent from the previous quarter's Rs 3389.95 crore and up 0.84 per cent from the year-ago quarter. The company reported net profit of Rs 250.62 crore for the latest quarter.Promoter Holdings Promoters held 45.25 per cent stake in the company as of 30-Jun-2023, while FIIs held 15.79 per cent and MFs 20.28 per cent.Technicals On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 831.49 on August 04, while the 50-DMA was at Rs 841.25.
If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.
. Read more on economictimes.indiatimes.com
