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Bharat Forge Ltd. shares up 2.41% as Nifty gains

A total of 91,789 shares changed hands on the counter till 01:30PM (IST).

Last Updated: Jun 03, 2020, 01.30 PM IST
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NEW DELHI: Shares of Bharat Forge Ltd. traded 2.41 per cent up in Wednesday's trade at 01:30PM (IST). Around 91,789 shares changed hands on the counter.

The counter opened at Rs 337.0 and touched an intraday high and low of Rs 342.0 and Rs 332.7, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 533.1 and a 52-week low of Rs 207.85.

Total market cap of the Bharat Forge Ltd. stood at Rs 15809.06 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 1830.86 crore for the quarter ended 31-Dec-2019, down 15.05 per cent from previous quarter's Rs 2155.2 crore and down 25.7 per cent from the year-ago quarter's Rs 2463.99 crore.

The net profit for latest quarter stood at Rs 41.792 crore, down 80.85 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2020, DIIs held 8.95 per cent stake in the firm, while foreign institutional investors held 20.71 per cent and the promoters 45.76 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 21.3 and a price-to-book ratio of 2.92. 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.
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