Bharat Forge Ltd Share Price – NSE  /  BSE

Castings, Forgings & Fastners, Mid Cap

The company said that this investment falls within the pre-approved limits of the board resolution dated 14 November 2022.

The funds are intended for further investment by BFA into its wholly-owned subsidiary - Bharat Forge Aluminum USA Inc. (BFAL), to facilitate BFAL’s capital expenditure for aluminum forging facility, the company stated.

BFAL produces and supplies aluminum automotive components for the auto industry. BFAL had a turnover of $60.73 million for the period April 2023 – March 2024.

Accordingly, the investment by the company in BFA and the proposed investment in BFAL is to facilitate BFAL’s capital expenditure for aluminum forging facility and is in furtherance of BFAL’s main line of business, the company stated in the press relase.

The company will continue to hold 100% of shareholding in BFAL through BFA. The investment will tentatively be completed by 21 June 2024.

Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.

The company’s standalone net profit jumped 59.23% to Rs 389.65 crore in the quarter ended 31 March 2024 as compared with Rs 244.52 crore recorded in the quarter ended 31 March 2023. Revenue from operations increased 16.59% to Rs 2328.58 crore in Q4 FY24, driven by execution on defence export order and Passenger vehicle exports.

The scrip rose 0.32% to currently trade at Rs 1,701.70 on the BSE.

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Bharat Forge has on 18 June 2024 made an additional investment of USD 40 million in Bharat Forge America Inc. (BFA) a wholly owned subsidiary of the Company. This investment falls within the pre-approved limits of the board resolution dated 14 November 2022. The funds are intended for further investment by BFA into its wholly-owned subsidiary - Bharat Forge Aluminum USA Inc. (BFAL), to facilitate BFAL's capital expenditure for aluminum forging facility.

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Bharat Forge Ltd is up for a third straight session today. The stock is quoting at Rs 1577.65, up 1.32% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.78% on the day, quoting at 23226.9. The Sensex is at 76503.7, up 1.9%. Bharat Forge Ltd has gained around 12.28% in last one month.

Meanwhile, Nifty Auto index of which Bharat Forge Ltd is a constituent, has gained around 10.26% in last one month and is currently quoting at 24396.7, up 1.5% on the day. The volume in the stock stood at 3.04 lakh shares today, compared to the daily average of 23.34 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 1578.35, up 1.18% on the day. Bharat Forge Ltd is up 92.87% in last one year as compared to a 24.64% jump in NIFTY and a 68.55% jump in the Nifty Auto index.

The PE of the stock is 50.45 based on TTM earnings ending March 24.

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Bharat Forge has fixed 05 July 2024 as record date for final dividend of Rs 6.50 per share for the FY 2024. The dividend, if approved, shall be paid on or after 14 August 2024.

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