This commercial vehicle manufacturer stock is trending on October 6
The shares surged 8% on the day.
On October 6, the market is trading in green. At 10:55 am, the S&P BSE Sensex is at 58456, up 0.67% on the day, while NIFTY50 is up 0.69% and trading at 17,394.25 . About sectoral performance, Metal is the top gainer, while Capital Goods and Realty are the top losers. Regarding stock-specific action, Bharat Forge Ltd is among the top gainers.
The shares of Bharat Forge Ltd surged 8% and are trading at Rs 765.4. The stock opened at Rs 724 and since has made an intraday high and low of Rs 772 and Rs 724, respectively.
Bharat Forge manufactures and sells forged and machined components for the automotive and industrial sectors. It is a leading player in the global automotive forging space, specialising in the commercial vehicle chasis and engine component segment.
It has a diversified global customer base including the top five CV and PV manufacturers in the world. It is a major provider of crankshafts and front-axle beams to CV OEMs in India, Europe, and North America.
FY22 was a very successful year for the company when the highest ever sales and net profit figures were recorded. On a consolidated basis, the FY22 sales and net profit stood at Rs 10461 crore and Rs 1077 crore, respectively. As per the FY22 period ending the company has ROE and ROCE of 15.4% and 11.5%, respectively.
For the latest June quarter, on a consolidated basis, the company generated revenue of Rs 2851 crore, a YoY improvement of 35.24%. However, its Q1FY23 net profit only increased slightly by 4.4% and came at Rs 160 crore.
About the shareholding pattern, 45.25% of the stake is owned by the promoters, 18.82% by FIIs, 24.33% by DIIs, 0.16% by Government, and the rest by 11.44% by non-institutional investors.
The company has a market capitalisation of Rs 35750 crore and is currently trading at a PE multiple of 28.53x. The stock has a 52-week high and low of Rs 848 and Rs 595.85, respectively.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||7007.50||-62.4 (-0.88%)|
|CAC 40||7213.90||-116.89 (-1.59%)|
|Dow Jones||34070.42||-370.46 (-1.08%)|
|FTSE 100||7678.62||-53.03 (-0.69%)|
|Hang Seng||17756.62||110.84 (0.63%)|
|US Tech 100||13263.98||-245.15 (-1.81%)|
|Nikkei 225||32345.92||-225.11 (-0.69%)|
|S&P 500||4330.00||-72.2 (-1.64%)|
|Gift Nifty||19710.00||39372 (-200.24%)|
|Shanghai Composite||3095.81||11.11 (0.36%)|
|Taiwan Weighted||16299.36||-17.31 (-0.11%)|
|US 30||34096.20||37.6 (0.11%)|
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The
Tepid listing for Unihealth Consultancy IPO on the NSE-SME
- Sep 21, 2023
EMS IPO had a strong listing on 21st September 2023, listing at a smart premium of 33.67%, but tapering towards the close to list below the listing price.
- Sep 21, 2023
The IPO of Madhusudan Masala Ltd closed on Thursday, 21st September 2023. The IPO had opened for subscription on 18th September 2023. Let us look at the final subscription status of Madhusudan Masala Ltd at the close of subscription on 21st September 2023.
- Sep 21, 2023