Buy Bharat Forge, target price Rs 1250: Motilal Oswal

Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 51729.22 Crore) operating in Auto Ancillaries sector.

By ETMarkets.com | Nov 28, 2023, 09.46 AM IST

Promoters held 45.25 per cent stake in the company as of 30-Sep-2023, while FIIs owned 16.28 per cent, DIIs 27.94 per cent.

Motilal Oswal has buy call on Bharat Forge Ltd. with a target price of Rs 1250. The current market price of Bharat Forge Ltd. is Rs 1117.8.

Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 51729.22 Crore) operating in Auto Ancillaries sector.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings, Scrap, Export Incentives, Job Work, Dies & Tools and Wind Mills for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 3826.67 Crore, down -2.91 % from last quarter Total Income of Rs 3941.42 Crore and up 22.56 % from last year same quarter Total Income of Rs 3122.27 Crore. Company reported net profit after tax of Rs 214.36 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 45.25 per cent stake in the company as of 30-Sep-2023, while FIIs owned 16.28 per cent, DIIs 27.94 per cent.

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