Buy Bharat Forge, target price Rs 900: Edelweiss

Edelweiss has buy call on Bharat Forge with a target price of Rs 900. The current market price of Bharat Forge Ltd. is Rs 833.85.

Time period given by analyst is Intra Day when Bharat Forge Ltd. price can reach defined target.

Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 38832.42 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-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2148.39 Crore, up .62 % from last quarter Total Income of Rs 2135.23 Crore and up 79.15 % from last year same quarter Total Income of Rs 1199.24 Crore. Company reported net profit after tax of Rs 161.86 Crore in latest quarter.

Investment Rationale
Breakout from a trading range since August after a strong base formation which indicates strong rally


Promoter/FII Holdings
Promoters held 44.76 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.1 per cent, DIIs 13.28 per cent.