Shares of Bharat Forge fall as Nifty drops
Bharat Forge Ltd. slipped 0.17 per cent to Rs 908.1 in Tuesday's trade as of 12:02PM (IST). It hit a high of Rs 913.95 and low of Rs 907.45 during the session.
The stock quoted a 52-week high price of Rs 937.65 and a low of Rs 677.85. The return on equity for the stock stood at 7.87 per cent. About 4,622 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.45. The scrip has been an outperformer, up 27.52 per cent in the past one year in comparison with a 12.76 per cent gain in Sensex.Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 677.85 on August 08, while the 50-DMA was at Rs 846.38. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.Promoter/FII Holding Promoters held 45.25 per cent stake in Bharat Forge Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 20.28 per cent and 15.79 per cent stake.
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