Share price of Bharat Forge falls as Nifty weakens
Bharat Forge Ltd. slipped 1.55 per cent to Rs 890.95 in Wednesday's trade as of 01:09PM (IST). The stock hit a high price of Rs 904.9 and low of Rs 889.65 during the session.
The return on equity (ROE) for the stock stood at 7.87 per cent. Traded volume on the counter stood at 01:09PM shares and turnover at Rs 7958.0 crore around that time. The stock of Bharat Forge Ltd.
quoted a 52-week high price of Rs 937.65 and 52-week low prices of Rs 677.85, 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-2023, while foreign investors held 15.79 per cent and domestic institutional investors had 20.28 per cent.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. Net profit after tax for the latest quarter stood at Rs 250.62 crore, up 6.32 per cent from the same quarter a year ago.Technicals The MACD signalled a bullish 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.
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