Bharat Forge shares gain 0.47% as Sensex rises

Shares of Bharat Forge Ltd. traded 0.47 per cent higher in Wednesday's session at 01:58PM (IST). The stock opened at Rs 750.7 and has touched an intraday high and low of Rs 754.2 and Rs 745.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 919.5 and a 52-week low of 597.5. About 19,180 shares changed hands on the counter so far.

Benchmark Nifty50 was up 71.65 points at 17023.35, while the BSE Sensex traded 174.01 points higher at 57787.73 at the time of writing of this report.

In the Nifty pack, 36 stocks traded the day in the green, while 14 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 3389.95 crore, up 8.57 per cent from the previous quarter's Rs 3122.27 crore and up 39.58 per cent from the year-ago quarter. The company reported net profit of Rs 82.5 crore for the latest quarter.

Promoter Holdings
Promoters held 45.25 per cent stake in the company as of 31-Dec-2022, while FIIs held 17.88 per cent and MFs 19.47 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 788.14 on March 29, while the 50-DMA was at Rs 834.26. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.