Shares of Bharat Forge Ltd. traded 1.31 per cent lower in Thursday’s session at 01:14PM (IST). The stock opened at Rs 762.8 and has touched an intraday high and low of Rs 766.35 and Rs 748.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 848.0 and a 52-week low of 595.85. About 16,802 shares changed hands on the counter so far.

Benchmark Nifty50 was down 97.05 points at 17026.55, while the BSE Sensex traded 330.96 points lower at 57294.95 at the time of writing of this report.

In the Nifty pack, 13 stocks traded the day in the green, while 37 were in the red.

Key Financials

For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 2884.04 crore, down 21.12 per cent from the previous quarter’s Rs 3656.05 crore and down 34.24 per cent from the year-ago quarter. The company reported net profit of Rs 164.45 crore for the latest quarter.

Promoter Holdings

Promoters held 45.25 per cent stake in the company as of 30-Jun-2022, while FIIs held 18.82 per cent and MFs 18.9 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 704.39 on October 13, while the 50-DMA was at Rs 746.24. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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By Dipak

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