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Buy Bharat Forge, target Rs 535: Manas Jaiswal

Buy Bharat Forge Ltd. at a price target of Rs 535.0 and a stoploss at Rs 500 from entry point.

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Last Updated: Apr 16, 2019, 09.16 AM IST
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Manas Jaiswal of manasjaiswal.com has a buy call on Bharat Forge Ltd. with a target price of Rs 535. The current market price of Bharat Forge Ltd. is Rs 511.4. Time period given by the analyst is Intra Day when Bharat Forge Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 500.

Bharat Forge Ltd., incorporated in 1961, is a largecap company with a market cap of Rs 23811.14 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 31-12-2018, the company has reported a Standalone sales of Rs 1692.52 Crore, up .79 % from last quarter Sales of Rs 1679.21 Crore and up 21.72 % from last year same quarter Sales of Rs 1390.55 Crore Company has reported net profit after tax of Rs 309.83 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.G K Agarwal, Mr.Kishore Saletore, 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 31-12-2018, the company has a total of 465,607,032 shares outstanding.

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