Buy Bharat Forge, target price Rs 1315: Motilal Oswal

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.

By ETMarkets.com | Updated: Mar 11, 2024, 09.42 AM IST

Promoters held 45.25 per cent stake in the company as of 31-Dec-2023, while FIIs owned 16.6 per cent, DIIs 27.63 per cent.

Motilal Oswal has buy call on Bharat Forge with a target price of Rs 1315. The current market price of Bharat Forge Ltd. is Rs 1159.

Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 54294.62 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 31-12-2023, the company reported a Consolidated Total Income of Rs 3922.36 Crore, up 2.50 % from last quarter Total Income of Rs 3826.67 Crore and up 15.71 % from last year same quarter Total Income of Rs 3389.95 Crore. Company reported net profit after tax of Rs 252.74 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 45.25 per cent stake in the company as of 31-Dec-2023, while FIIs owned 16.6 per cent, DIIs 27.63 per cent.

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