Bharat Forge shares down 0.5% as Sensex rises

Shares of Bharat Forge Ltd. fell 0.5 per cent to Rs 779.2 in Monday's session as of 12:35PM (IST) even as the equity benchmark Sensex traded 117.15 points higher at 59772.21.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 919.5 and a 52-week low of Rs 597.5 on NSE. Around 10973 shares changed hands on the counter till 12:35PM (IST).

The stock opened at Rs 781.95 and has touched an intraday high and low of Rs 786.05 and Rs 776.05 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 57.69, earnings per share (EPS) of Rs 13.5 and price to book value (PB) of 4.97, while the return on equity (ROE) stood at Rs 16.46.

Promoter/ FII Holding
The promoters held 45.25 per cent stake in the company as of April 24, while FII and MF ownerships stood at 16.17 per cent and 19.89 per cent, respectively.

Key Financials
With a market capitalisation of Rs 36264.7 crore, the company operates in the Auto Ancl - Others industry. 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 same quarter a year ago. The company reported net profit of Rs 82.5 crore for the latest quarter, down 80.41 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 48.05. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.