Bharat Forge drops on profit booking

Bharat Forge lost 1.58% to Rs 437.80 at 11:51 IST on BSE, with the stock sliding on profit booking after recent gains.

Meanwhile, the S&P BSE Sensex was down 160.56 points or 0.71% at 22,554.77.

On BSE, so far 19,023 shares were traded in the counter as against average daily volume of 64,000 shares in the past two weeks.

The stock hit a high of Rs 445 and a low of Rs 433.65 so far during the day.

Shares of Bharat Forge had risen 5.15% in four trading sessions to settle at Rs 444.85 on Thursday, 10 April 2014, from a recent low of Rs 423.05 so on 3 April 2014.

 

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.

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