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Buy Bharat Forge, target Rs 463: CK Narayan

Buy Bharat Forge Ltd. at a price target of Rs 463.0 and a stoploss at Rs 448 from entry point.

Updated: Dec 13, 2019, 09.11 AM IST
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CK Narayan of Chart Advise has a buy call on Bharat Forge Ltd. with a target price of Rs 463. The current market price of Bharat Forge Ltd. is Rs 448.35. Time period given by the analyst is Intra Day when Bharat Forge Ltd. price can reach the defined target. CK Narayan recommended to keep stoploss at Rs 448. Bharat Forge Ltd., incorporated in 1961, has a market cap of Rs 20874.67 crore.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings which contributed Rs 6050.28 Crore to Sales Value (92.79 % of Total Sales), Scrap which contributed Rs 252.92 Crore to Sales Value (3.87 % of Total Sales), Export Incentives which contributed Rs 167.38 Crore to Sales Value (2.56 % of Total Sales), Job Work which contributed Rs 31.38 Crore to Sales Value (0.48 % of Total Sales), Dies & Tools which contributed Rs 13.17 Crore to Sales Value (0.20 % of Total Sales) and Wind Mills which contributed Rs 4.87 Crore to Sales Value (0.07 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 2155.20 Crore, down -7.42 % from last quarter Sales of Rs 2327.86 Crore and down -17.02 % from last year same quarter Sales of Rs 2597.27 Crore Company has reported net profit after tax of Rs 212.77 Crore in latest quarter. The company’s top management includes 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 30-09-2019, the company has a total of 465,588,632 shares outstanding.

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