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Buy Bharat Forge, target Rs 600: Dr CK Narayan

Buy Bharat Forge Ltd. at a price target of Rs 600.0 and a stoploss at Rs 577 from entry point.

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Last Updated: Dec 05, 2018, 09.10 AM IST
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Dr CK Narayan of Chart Advise has a buy call on Bharat Forge Ltd. with a target price of Rs 600. The current market price of Bharat Forge Ltd. is Rs 581.05. Time period given by the analyst is Intra Day when Bharat Forge Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 577. Bharat Forge Ltd., incorporated in 1961, is a largecap company with a market cap of Rs 27053.03 crore.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings which contributed Rs 3776.83 Crore to Sales Value (92.88 % of Total Sales), Scrap which contributed Rs 157.71 Crore to Sales Value (3.87 % of Total Sales), Export Incentives which contributed Rs 82.87 Crore to Sales Value (2.03 % of Total Sales), Job Work which contributed Rs 26.82 Crore to Sales Value (0.65 % of Total Sales), Dies which contributed Rs 14.03 Crore to Sales Value (0.34 % of Total Sales), Wind Mills which contributed Rs 7.86 Crore to Sales Value (0.19 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-09-2018, the company has reported a Standalone sales of Rs 1679.21 Crore, up 13.49 % from last quarter Sales of Rs 1479.66 Crore and up 33.48 % from last year same quarter Sales of Rs 1258.02 Crore Company has reported net profit after tax of Rs 227.49 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.Naresh Narad, 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 30-09-2018, the company has a total of 465,588,632 shares outstanding.

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