Bharat Forge slips on profit booking

Bharat Forge fell 1.73% to Rs 406.45 at 13:21 IST on BSE on profit booking after the stock rose 4.75% in the preceding two trading sessions to Rs 413.60 on 25 March 2014, from a recent low of Rs 394.85 on 22 March 2014.

Meanwhile, the BSE Sensex was up 59.43 points, or 0.27%, to 22,114.64.

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 63,372 shares in the past one quarter.

The stock hit a high of Rs 417.50 and a low of Rs 405 so far during the day. The stock hit a 52-week high of Rs 421 on 25 March 2014. The stock hit a 52-week low of Rs 185.55 on 6 August 2013.

The stock had outperformed the market over the past one month till 25 March 2014, rising 13.24% compared with the Sensex's 5.77% rise. The scrip had also outperformed the market in past one quarter, rising 22.22% as against Sensex's 4.86% 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 jumped 97.7% to Rs 93.97 crore on 22.4% growth in net sales to Rs 808.62 crore in Q3 December 2013 over Q3 December 2012.

Bharat Forge, the flagship company of Kalyani Group, is a global forgings conglomerate. It is the largest exporter of auto components from India and leading chassis component manufacturer in the world.

Powered by Capital Market - Live News