Bharat Forge shares down 2.64% as Nifty drops

NEW DELHI: Shares of Bharat Forge Ltd. traded 2.64 per cent down in Friday's trade at 01:25PM (IST). Around 31,758 shares changed hands on the counter.

The stock opened at Rs 853.05 and touched an intraday high and low of Rs 857.5 and Rs 827.75, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 919.5 and a 52-week low of Rs 595.85.

As per BSE, the total market cap of the Bharat Forge Ltd. stood at Rs 38923.21 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 3122.27 crore for the quarter ended 30-Sep-2022, up 8.26 per cent from previous quarter's Rs 2884.04 crore and up 28.81 per cent from the year-ago quarter's Rs 2423.9 crore.

The net profit for latest quarter stood at Rs 145.92 crore, down 46.2 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Sep-2022, DIIs held 18.04 per cent stake in the company, while foreign institutional investors held 19.3 per cent and the promoters 45.25 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 40.24 and a price-to-book ratio of 4.97. 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.