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Buy Bharat Forge, target Rs 420: Sagar Doshi

Buy Bharat Forge Ltd. at a price target of Rs 420.0 and a stoploss at Rs 385 from entry point.

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Last Updated: Sep 11, 2019, 08.18 AM IST
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Sagar Doshi of Edelweiss Financial Services has a buy call on Bharat Forge Ltd. with a target price of Rs 420. The current market price of Bharat Forge Ltd. is Rs 400.35 Time period given by analyst is Intra Day when Bharat Forge Ltd. price can reach defined target. Sagar Doshi recommended to keep stoploss at Rs 385. Bharat Forge Ltd., incorporated in 1961, has a market cap of Rs 18639.84 crore.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings which contributed Rs 5019.82 Crore to Sales Value (93.42 % of Total Sales), Scrap which contributed Rs 185.12 Crore to Sales Value (3.44 % of Total Sales), Export Incentives which contributed Rs 117.66 Crore to Sales Value (2.18 % of Total Sales), Job Work which contributed Rs 32.72 Crore to Sales Value (0.60 % of Total Sales), Dies which contributed Rs 10.55 Crore to Sales Value (0.19 % of Total Sales), Wind Mills which contributed Rs 7.07 Crore to Sales Value (0.13 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 2327.86 Crore, down -12.84 % from last quarter Sales of Rs 2670.78 Crore and down -3.56 % from last year same quarter Sales of Rs 2413.70 Crore Company has reported net profit after tax of Rs 177.52 Crore in latest quarter. The company’s top management includes Dr.T Mukherjee, Mr.Amit B Kalyani, Mr.B N Kalyani, Mr.B P Kalyani, Mr.Dipak Mane, Mr.G K Agarwal, Mr.Kishore Saletore, Mr.Murali Sivaraman, Mr.P C Bhalerao, Mr.P H Ravikumar, Mr.Pratap G Pawar, Mr.S E Tandale, Mr.S M Thakore, Mr.Vimal Bhandari, Mrs.Lalita D Gupte. Company has SRBC & Co LLP as its auditoRs As on 30-06-2019, the company has a total of 465,588,632 shares outstanding.

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