Bharat Forge gains over 8% in two sessions

Bharat Forge rose 2.55% to Rs 908 at 13:19 IST on BSE, extending Monday's 5.81% rise triggered by the company's good Q2 September 2014 earnings.

Meanwhile, the BSE Sensex was up 8.36 points, or 0.03%, to 27,883.09.

On BSE, so far 1.96 lakh shares were traded in the counter, compared with an average volume of 89,475 shares in the past one quarter.

The stock hit a high of Rs 911 and a low of Rs 888.40 so far during the day. The stock hit a record high of Rs 934.40 on 11 September 2014. The stock hit a 52-week low of Rs 280.55 on 21 November 2013.

The stock had outperformed the market over the past one month till 10 November 2014, rising 16.17% compared with 6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.13% as against Sensex's 10.05% rise.

The large-cap company has an equity capital of Rs 46.56 crore. Face value per share is Rs 2.

Bharat Forge's net profit rose 81% to Rs 174.50 crore on 34.7% rise in total revenues to Rs 1138.30 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during market hours on Monday, 10 November 2014. Shares of Bharat Forge surged 5.81% to Rs 885.45 on that day. The stock has risen 8.50% in two trading sessions.

Bharat Forge showed robust growth in revenues driven by 26.4% increase in export on account of industrial sector growth and robust North American truck market. EBITDA (earnings before interest, taxes, depreciation and amortization) rose 48.7% to Rs 331.30 crore in Q2 September 2014 over Q2 September 2013. EBITDA margin stood at 29.1% in Q2 September 2014 compared with 26.4% in Q2 September 2013. The company's shipment tonnage rose 22.8% to 52,560 tonnes in Q2 September 2014 over Q2 September 2013.

Bharat Forge, the Pune-based Indian multinational is a technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace.

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