Bharat Forge shares fall 1.27 per cent in Thursday's trading session

Shares of Bharat Forge Ltd. fell 1.27 per cent to Rs 848.0 in Thursday's trade as of 02:05PM (IST) even as the benchmark Nifty ruled at 18813.55, up 55.2 points.

The scrip had closed at Rs 858.95 in the previous session. The stock quoted a 52-week low of Rs 595.85 and a high of Rs 896.4. The company quoted a market-cap of Rs 39365.52 crore on the BSE.

On BSE, 14,740 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 40.7 times its trailing 12-month EPS of Rs 20.78 per share and 4.97 times its book value. The return on equity (ROE) stood at Rs 16.46.

Key Financials
For the quarter ended 30-Sep-2022, Bharat Forge Ltd. reported consolidated sales of Rs 3122.27 crore, up 28.81 per cent from the same quarter a year ago. The company reported 46.2 per cent YoY de-growth in net profit at Rs 145.92 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.