Bharat Forge shares down 1.76% as Sensex rises

Shares of Bharat Forge Ltd. fell 1.76 per cent to Rs 1134.55 in Wednesday's session as of 02:05PM (IST) even as the equity benchmark Sensex traded 100.83 points higher at 74004.74.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 1330.0 and a 52-week low of Rs 744.0 on NSE. Around 43273 shares changed hands on the counter till 02:05PM (IST).

The stock opened at Rs 1134.55 and has touched an intraday high and low of Rs 1143.3 and Rs 1105.0 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 54.66, earnings per share (EPS) of Rs 20.74 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 April 03, while FII and MF ownerships stood at 16.6 per cent and 19.84 per cent, respectively.

Key Financials
With a market capitalisation of Rs 52793.09 crore, the company operates in the Auto Ancl - Others industry. For the quarter ended 31-Dec-2023, the company reported consolidated sales of Rs 3922.36 crore, up 2.5 per cent from the previous quarter?s Rs 3826.67 crore and up 15.71 per cent from the same quarter a year ago. The company reported net profit of Rs 264.55 crore for the latest quarter, up 220.66 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 47.63. 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.