Bharat Forge shares rise 0.7 per cent in Thursday's trading session

Shares of Bharat Forge Ltd. rose 0.7 per cent to Rs 1121.75 in Thursday's trade as of 11:01AM (IST) even as the benchmark Nifty ruled at 19820.8, up 9.45 points.

The scrip had closed at Rs 1113.9 in the previous session. The stock quoted a 52-week low of Rs 743.0 and a high of Rs 1147.95. The company quoted a market-cap of Rs 52192.49 crore on the BSE.

On BSE, 5,446 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 74.3 times its trailing 12-month EPS of Rs 15.09 per share and 5.35 times its book value. The return on equity (ROE) stood at Rs 7.87.

Key Financials
For the quarter ended 30-Jun-2023, Bharat Forge Ltd. reported consolidated sales of Rs 3941.42 crore, up 36.66 per cent from the same quarter a year ago. The company reported 35.85 per cent YoY growth in net profit at Rs 223.4 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Thursday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold 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.