bharat forge share price: Bharat Forge shares drop 0.4% as Sensex falls

Shares of Ltd. traded 0.4 per cent lower in Wednesday’s session at 12:55PM (IST). The stock opened at Rs 779.1 and has touched an intraday high and low of Rs 782.85 and Rs 766.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 832.15 and a 52-week low of 376.7. About 21,160 shares changed hands on the counter so far.

Benchmark Nifty50 was down 92.5 points at 15653.95, while the BSE Sensex traded 330.39 points lower at 52248.37 at the time of writing of this report.

In the Nifty pack, 15 stocks traded the day in the green, while 35 were in the red.

Key Financials

For the quarter ended 31-Mar-2021, the company reported consolidated sales of Rs 2135.23 crore, up 21.24 per cent from the previous quarter’s Rs 1761.11 crore and up 18.91 per cent from the year-ago quarter. The company reported net profit of Rs 208.61 crore for the latest quarter.


Promoter Holdings

Promoters held 44.76 per cent stake in the company as of 30-Jun-2021, while FIIs held 25.3 per cent and MFs 10.92 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 611.83 on July 28, while the 50-DMA was at Rs 745.32. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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