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Sell Bharat Forge; target Rs 490: Dr CK Narayan

Sell Bharat Forge at a price target of Rs 490 and a stoploss at Rs 510 from entry point.

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Last Updated: Dec 24, 2018, 08.43 AM IST
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Dr CK Narayan recommended to keep stoploss at Rs 510.
Dr CK Narayan of Chart Advise has a sell call on Bharat Forge with a target price of Rs 490. The current market price of Bharat Forge is Rs 502.10. Time period given by analyst is Intra Day when Bharat Forge price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 510. Bharat Forge, incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 23377.21 crore) operating in Engineering sector.

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

For the quarter ended 30-09-2018, the company has reported a Standalone sales of Rs 1679.21 crore, up 13.49 per cent from last quarter Sales of Rs 1479.66 crore and up 33.48 per cent 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 and Mrs.Lalita D Gupte.

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