Bharat Forge Share Price: Bharat Forge shares fall 2.5% as Sensex falls

Actions of Bharat Forging Ltd. The company’s shares were trading 2.5 per cent lower on Friday at 13:34 IST. The stock opened at Rs 1,611.3 and has touched an intraday high and low of Rs 1,611.3 and Rs 1,561.35 respectively during the session so far.

The stock traded a 52-week high of Rs 1826.2 and a 52-week low of Rs 1002.7. Around 73,864 shares were traded so far.

The benchmark Nifty50 index fell 278.55 points to 24,866.55, while the BSE Sensex was trading 957.4 points lower at 81,243.76 at the time of writing this report.

In it Skilled In total, 9 stocks traded in the green during the day, while 41 were in the red.

Key financial data

For the quarter ended June 30, 2024, the company reported consolidated sales of Rs 4,157.79 crore, down 1.45 per cent from Rs 4,219.04 crore in the previous quarter and down 5.49 per cent from the same quarter last year. The company reported a net profit of Rs 202.81 crore for the last quarter. Promoter’s shares
Promoters held 45.25 per cent stake in the company as on June 30, 2024, while IFIs held 17.04 per cent and MFs 19.35 per cent.

Technicians
On the technical charts, the stock’s 200-day moving average (DMA) stood at Rs 1,362.27 on September 6, while the 50-day DMA stood at Rs 1,623.98. If a stock is trading above the 50-day DMA and the 200-day DMA, it usually means that the immediate trend is bullish. On the other hand, if the stock is trading well below the 50-day DMA and the 200-day DMA, it is considered to be in a bearish trend and if it is trading between these averages, then it suggests that the stock can go in either direction.

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