Bharat Forge shares down 0.44% as Sensex rises

Shares of Bharat Forge Ltd. fell 0.44 per cent to Rs 862.55 in Monday's session as of 01:00PM (IST) even as the equity benchmark Sensex traded 260.1 points higher at 66321.0.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 919.5 and a 52-week low of Rs 631.35 on NSE. Around 8053 shares changed hands on the counter till 01:00PM (IST).

The stock opened at Rs 867.5 and has touched an intraday high and low of Rs 871.75 and Rs 862.2 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 62.45, earnings per share (EPS) of Rs 13.82 and price to book value (PB) of 5.35, while the return on equity (ROE) stood at Rs 7.87.

Promoter/ FII Holding
The promoters held 45.25 per cent stake in the company as of July 17, while FII and MF ownerships stood at 15.79 per cent and 20.28 per cent, respectively.

Key Financials
With a market capitalisation of Rs 40187.28 crore, the company operates in the Auto Ancl - Others industry. For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 3686.85 crore, up 8.76 per cent from the previous quarter?s Rs 3389.95 crore and up 0.84 per cent from the same quarter a year ago. The company reported net profit of Rs 250.62 crore for the latest quarter, up 6.32 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 66.3. 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.