Bharat Forge: Buy Bharat Forge, target price Rs 721: Motilal Oswal

Motilal Oswal has a buy call on with a target price of Rs 721. The current price of Bharat Forge is Rs 585.5.

Bharat Forge, incorporated in the year 1961, is a Large Cap company with a market cap of Rs 27509.30 Crore operating in Auto Ancillaries sector.

Bharat Forge key Products/Revenue Segments include Steel Forgings, Scrap, Export Incentives, Job Work and Dies & Tools for the year ending 31-Mar-2019.

Financials

For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 1761.11 Crore, up 24.94 per cent from last quarter’s total income of Rs 1409.57 Crore and down 5.72 per cent from last year same quarter’s total income of Rs 1868.05 Crore. Company has reported net profit after tax of Rs 206.71 Crore in latest quarter.

Promoter/FII Holdings

Promoters held 45.8 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.5 per cent, DIIs 12.6 per cent and public and others 18.2 per cent.

Source Link