Bharat Forge shares up 1.8% as Nifty gains

NEW DELHI: Shares of Bharat Forge Ltd. traded 1.8 per cent up in Thursday's trade at 11:33AM (IST). Around 54,066 shares changed hands on the counter.

The stock opened at Rs 812.0 and touched an intraday high and low of Rs 829.55 and Rs 810.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 919.5 and a 52-week low of Rs 615.0.

Total market cap of the Bharat Forge Ltd. stood at Rs 38550.74 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 3686.85 crore for the quarter ended 31-Mar-2023, up 8.76 per cent from previous quarter's Rs 3389.95 crore and up 0.84 per cent from the year-ago quarter's Rs 3656.05 crore.

The net profit for latest quarter stood at Rs 250.62 crore, up 6.32 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2023, DIIs held 19.89 per cent stake in the company, while foreign institutional investors held 16.17 per cent and the promoters 45.25 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 59.91 and a price-to-book ratio of 5.35. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Bharat Forge Ltd. belongs to the Auto Ancl - Others industry.