Bharat Forge Ltd., incorporated in 1961, is a large-cap company operating in the auto ancillaries sector. As of the latest market data, the company has a market capitalization of Rs 50050.78 Crore. Key products/revenue segments of Bharat Forge Ltd. include Steel Forgings, Scrap, Export Incentives, Job Work, and Wind Mills. Motilal Oswal, a renowned financial institution, has recommended a buy call on Bharat Forge Ltd. with a target price of Rs 1135.
In terms of financial performance, for the quarter ended 30-06-2023, Bharat Forge Ltd. reported a consolidated total income of Rs 3941.42 Crore, which was an increase of 6.90% from the previous quarter’s total income of Rs 3686.85 Crore. In comparison to the same quarter of the previous year, the total income grew by 36.66% from Rs 2884.04 Crore. The net profit after tax for the latest quarter stood at Rs 211.19 Crore.
Talking about ownership, as of 30-Jun-2023, promoters held a 45.25% stake in Bharat Forge Ltd., while FIIs (Foreign Institutional Investors) owned 15.79% and DIIs (Domestic Institutional Investors) owned 28.31%.
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In conclusion, Bharat Forge Ltd. is making headlines in the market, and with Motilal Oswal’s buy call and a target price of Rs 1135, investors are keeping a close eye on the company’s performance.
