Bharat Forge: Stock under pressure, investors need to await growth momentum

Company decides not to give an outlook as customers turn cautious amid worries of a second Covid-19 wave

Topics
Bharat Forge | Investors

Ram Prasad Sahu 

A muted September quarter (Q2) results and cautious commentary by the management on exports weighed on the stock price of Bharat Forge. The stock which had gained 57 per cent since the start of July shed about 4 per cent in trade on Wednesday.

While the company was expected to post muted revenues given pressures across segments, the 30 per cent decline over the year-ago quarter was higher than estimated numbers. The decline was attibuted to exports, which fell 40 per cent as compared to the year ago levels. The share of exports to the overall revenues, which was around 62 per cent in ...

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First Published: Wed, November 11 2020. 21:25 IST
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