Bharat Forge Share Price: Bharat Forge stock price up 3.95 per cent as Sensex climbs

Shares of Ltd. rose 3.95 per cent to Rs 809.6 at 10:05AM hours (IST) on Friday. Earlier in the day, the stock saw a gap up start to the session.

As per data available on BSE, total traded quantity on the counter stood at 83,496 shares with a turnover of Rs 6.67 crore till 10:05AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 310.34, while the price-to-book value ratio stood at 5.13.

Return on equity (ROE) was at -2.33 per cent, according to exchange data. The stock hit an intraday high of Rs 811.0 and a low of Rs 786.4 during the session and quoted a 52-week high price of Rs 846.6 and a 52-week low of Rs 427.95.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.45.

Technical Indicators

The 200-DMA (day moving average) of the stock stood at Rs 651.85 on September 03, while the 50-DMA was at Rs 780.04. 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 below 50-DMA and 200-DMA, it is considered a bearish trend. If it trades between 50-DMA and 200-DMA, then it suggests the stock can go either way.

The Relative Strength Index (RSI) of the stood at 58.94. The RSI oscillates between zero and 100. Traditionally, a stock is considered overbought when the RSI value stands above 70 and oversold when it is below 30.

Promoter holding

As of 30-Jun-2021, promoters held 44.76 per cent stake in the company, while overseas investors held 25.3 per cent and domestic institutional investors had 12.13 per cent.

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