Buy Bharat Forge, target price Rs 950: Emkay Global

Emkay Global has buy call on Bharat Forge with a target price of Rs 950. The current market price of Bharat Forge Ltd. is Rs 700.

Time period given by analyst is one year 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 32498.09 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 30-09-2021, the company reported a Consolidated Total Income of Rs 2423.90 Crore, up 12.82 % from last quarter Total Income of Rs 2148.39 Crore and up 71.96 % from last year same quarter Total Income of Rs 1409.57 Crore. Company reported net profit after tax of Rs 281.19 Crore in latest quarter.

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.