Share price of Bharat Forge falls as Nifty strengthens
Bharat Forge Ltd. slipped 1.62 per cent to Rs 1558.55 in Thursday's trade as of 12:22PM (IST). The stock hit a high price of Rs 1584.25 and low of Rs 1556.25 during the session.
The return on equity (ROE) for the stock stood at 13.28 per cent. Traded volume on the counter stood at 12:22PM shares and turnover at Rs 2.49 crore around that time. The stock of Bharat Forge Ltd. quoted a 52-week high price of Rs 1826.2 and 52-week low prices of Rs 1002.7, respectively.
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.45.
Promotor/FII Holding Promoters held 45.25 per cent stake in the company as of 30-Jun-2024, while FIIs held 17.03 per cent and domestic institutional investors had 19.35 per cent.
Key Financials The company reported consolidated sales of Rs 4157.79 crore for the quarter ended 30-Jun-2024, down 1.45 per cent from previous quarter's Rs 4219.04 crore and down 5.49 per cent from the year-ago quarter's Rs 3941.42 crore. Net profit after tax for the latest quarter stood at Rs 202.81 crore, down 9.22 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect «buy» or «sell» opportunities. When the MACD crosses below the signal line, it gives a bearish
