Bharat Forge surges 8%, hits 52-week high post March quarter results

The company's management said it expects robust demand to continue in major segment in the export business

Shares of Bharat Forge moved higher by 8 per cent to Rs 749, also its 52-week high on the BSE in intra-day trade on Friday after the company reported a consolidated profit after tax of Rs 212 crore for the March quarter (Q4FY21), on healthy sales income. The auto ancillary company had posted a loss of Rs 68.6 crore in Q4FY20. The stock had hit a record high of Rs 800 on March 1, 2018.

The company’s revenue from operations grew 19.6 per cent to Rs 2,083 crore in Q4FY21, as against Rs 1,742 crore in the year-ago quarter. Despite cost