Shares of Bharat Forge rise as Nifty gains
Bharat Forge Ltd. gained 2.4 per cent to Rs 1055.35 in Monday's trade as of 12:38PM (IST). It hit a high of Rs 1055.7 and low of Rs 1030.65 during the session.
The stock quoted a 52-week high price of Rs 1147.95 and a low of Rs 744.0. The return on equity for the stock stood at 7.87 per cent. About 25,834 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 23.45 per cent in the past one year in comparison with a 12.38 per cent gain in Sensex.
Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 744.0 on November 06, while the 50-DMA was at Rs 1079.39.
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.
