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    Share price of Bharat Forge rises as Nifty strengthens

    Synopsis

    A total of 8,001 shares changed hands on the counter till 12:09PM (IST).

    NiftyGetty Images
    Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
    Shares of Bharat Forge Ltd. gained 0.61 per cent to Rs 830.05 in Monday's trade as of 12:09PM (IST).

    The stock hit a high price of Rs 834.4 and low of Rs 826.05 during the session.

    The return on equity (ROE) for the stock stood at 16.46 per cent. Traded volume on the counter stood at 12:09PM shares and turnover at Rs 0.66 crore around that time.

    The stock of Bharat Forge Ltd. quoted a 52-week high and 52-week low prices of Rs 919.5 and Rs 595.85, respectively.

    The Beta value of the counter, 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 31-Dec-2022, while foreign investors held 17.88 per cent and domestic institutional investors had 26.0 per cent.

    Key Financials
    The company reported consolidated sales of Rs 3389.95 crore for the quarter ended 31-Dec-2022, up 8.57 per cent from previous quarter's Rs 3122.27 crore and up 39.58 per cent from the year-ago quarter's Rs 2428.64 crore.

    Net profit after tax for the latest quarter stood at Rs 82.5 crore, down 80.41 per cent from the same quarter a year ago.
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