Bharat Forge gains after report Airbus in talks for parts deal

Bharat Forge gained 0.38% to Rs 878.05 at 15:20 IST on BSE after media reports of plane maker Airbus is in initial talks with Indian companies, including Bharat Forge and a Mahindra Group unit to have some of its aircraft parts forged in India.

Meanwhile, the BSE Sensex was up 75.91 points, or 0.3%, to 25,361.28.

On BSE, so far 63,192 shares were traded in the counter, compared with an average volume of 70,659 shares in the past one quarter. The stock hit a high of Rs 891.85 and a low of Rs 872.85 so far during the day. The stock hit a record high of Rs 1,362.90 on 6 April 2015. The stock hit a 52-week low of Rs 720.65 on 12 February 2016. The stock had outperformed the market over the past one month till 21 March 2016, gaining 13.44% compared with Sensex's 6.65% gains. The scrip had also outperformed the market in past one quarter, rising 2.42% as against Sensex's 1.75% fall.

Bharat Forge's net profit fell 15.4% to Rs 166.16 crore on 9.9% decline in net sales to Rs 1029.35 crore in Q3 December 2015 over Q3 December 2014.

Bharat Forge (BFL) is the flagship company of the $3 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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