Bharat Forge shares up 0.47% as Sensex falls

economictimes.indiatimes.com:

Forge Ltd. gained 0.47 per cent to Rs 840.2 in Wednesday's session as of 10:41AM (IST) even as the equity benchmark Sensex traded 98.16 points lower at 65380.89. Earlier in the day, the stock witnessed a gap up start to the session.

The stock quoted a 52-week high price of Rs 919.5 and a 52-week low of Rs 630.0 on NSE. Around 3401 shares changed hands on the counter till 10:41AM (IST). The stock opened at Rs 838.0 and has touched an intraday high and low of Rs 840.95 and Rs 832.9 during the session so far.

The counter quoted a price-to-earnings (PE) ratio of 60.78, earnings per share (EPS) of Rs 13.82 and price to book value (PB) of 5.35, while the return on equity (ROE) stood at Rs 7.87.Promoter/ FII Holding The promoters held 45.25 per cent stake in the company as of July 05, while FII and MF ownerships stood at 16.17 per cent and 19.89 per cent, respectively.Key Financials With a market capitalisation of Rs 39109.45 crore, the company operates in the Auto Ancl — Others industry. 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 same quarter a year ago. The company reported net profit of Rs 250.62 crore for the latest quarter, up 6.32 per cent from the corresponding quarter last year.Technical Indicators The relative strength index (RSI) of the stock stands at 63.78.

The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst