Bharat Forge Stock Price: Bharat Forge shares drop 4.18% as Sensex falls

Shares of Ltd. traded 4.18 per cent lower in Monday’s session at 01:18PM (IST). The stock opened at Rs 582.15 and has touched an intraday high and low of Rs 597.7 and Rs 574.4, respectively, during the session so far.

The stock quoted a 52-week high of Rs 676.1 and a 52-week low of 229.3. About 76,653 shares changed hands on the counter so far.

Benchmark Nifty50 was down 522.95 points at 14311.90, while the BSE Sensex traded 1725.9 points lower at 47865.42 at the time of writing of this report.

In the Nifty pack, 4 stocks traded the day in the green, while 46 were in the red.

Key Financials

For the quarter ended 31-Dec-2020, the company reported consolidated sales of Rs 1761.11 crore, up 24.94 per cent from the previous quarter’s Rs 1409.57 crore and up 5.72 per cent from the year-ago quarter. The company reported net loss of Rs 210.45 crore for the latest quarter.


Promoter Holdings

Promoters held 45.76 per cent stake in the company as of 31-Dec-2020, while FIIs held 23.46 per cent and MFs 10.63 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 511.84 on April 12, while the 50-DMA was at Rs 613.98. 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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