Share price of Bharat Forge rises as Nifty strengthens
Bharat Forge Ltd. gained 1.32 per cent to Rs 1062.3 in Tuesday's trade as of 10:15AM (IST). The stock hit a high price of Rs 1071.15 and low of Rs 1052.1 during the session.
The return on equity (ROE) for the stock stood at 7.87 per cent.
Traded volume on the counter stood at 10:15AM shares and turnover at Rs 157.0 crore around that time. The stock of Bharat Forge Ltd. quoted a 52-week high price of Rs 1071.15 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 3941.42 crore for the quarter ended 30-Jun-2023, up 6.9 per cent from previous quarter's Rs 3686.85 crore and up 36.66 per cent from the year-ago quarter's Rs 2884.04 crore.
Net profit after tax for the latest quarter stood at Rs 223.4 crore, up 35.85 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.
