Bharat Forge shares drop 0.68% as Sensex rises

Shares of Bharat Forge Ltd. traded 0.68 per cent lower in Monday's session at 02:07PM (IST). The stock opened at Rs 763.7 and has touched an intraday high and low of Rs 763.7 and Rs 744.0, 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 25,132 shares changed hands on the counter so far.

Benchmark Nifty50 was up 39.6 points at 17638.75, while the BSE Sensex traded 70.86 points higher at 59903.83 at the time of writing of this report.

In the Nifty pack, 34 stocks traded the day in the green, while 16 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 791.12 on April 10, while the 50-DMA was at Rs 823.72. 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.