Buy Bharat Forge, target price Rs 985: Motilal Oswal

Motilal Oswal has buy call on Bharat Forge with a target price of Rs 985. The current market price of Bharat Forge Ltd. is Rs 844.15. Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 39288.70 Crore) operating in Auto Ancillaries sector.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings, Scrap, Export Incentives, Job Work, Wind Mills for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 3122.27 Crore, up 8.26 % from last quarter Total Income of Rs 2884.04 Crore and up 28.81 % from last year same quarter Total Income of Rs 2423.90 Crore. Company reported net profit after tax of Rs 141.81 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 45.25 per cent stake in the company as of 30-Sep-2022, while FIIs owned 18.82 per cent, DIIs 24.39 per cent.