Bharat Forge shares down 2.4% as Nifty gains

NEW DELHI: Shares of Bharat Forge Ltd. traded 2.4 per cent down in Wednesday's trade at 01:44PM (IST). Around 14,827 shares changed hands on the counter.

The stock opened at Rs 1060.05 and touched an intraday high and low of Rs 1063.0 and Rs 1028.0, respectively, in the session so far. The stock of Bharat Forge Ltd. quoted a 52-week high of Rs 1147.95 and a 52-week low of Rs 744.0.

As per BSE, the total market cap of the Bharat Forge Ltd. stood at Rs 47895.1 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 3826.67 crore for the quarter ended 30-Sep-2023, down 2.91 per cent from previous quarter's Rs 3941.42 crore and down 22.56 per cent from the year-ago quarter's Rs 3122.27 crore.

The net profit for latest quarter stood at Rs 227.22 crore, up 55.72 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Sep-2023, DIIs held 19.81 per cent stake in the company, while foreign institutional investors held 16.28 per cent and the promoters 45.25 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 61.11 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.