Bharat Forge Ltd Share Price – NSE /  BSE

Castings, Forgings & Fastners, Mid Cap

Bharat Forge Ltd is up for a fifth straight session today. The stock is quoting at Rs 1338.25, up 0.97% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 1.01% on the day, quoting at 24030.45. The Sensex is at 79346.41, down 1.11%. Bharat Forge Ltd has slipped around 3.26% in last one month.

Meanwhile, Nifty Auto index of which Bharat Forge Ltd is a constituent, has slipped around 1.51% in last one month and is currently quoting at 23517.35, down 1.22% on the day. The volume in the stock stood at 7.67 lakh shares today, compared to the daily average of 8.88 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 1335.65, up 0.71% on the day. Bharat Forge Ltd is up 20.05% in last one year as compared to a 19.57% jump in NIFTY and a 32.88% jump in the Nifty Auto index.

The PE of the stock is 41.07 based on TTM earnings ending September 24.

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In March 2023, the Ministry of Defence, Government of India, had accorded the Acceptance of Necessity (AoN) for procurement of the 155mm/52cal Advanced Towed Artillery Gun System (ATAGS) along with the Gun Towing Vehicles (GTVs) for the Indian Army.

After completion of due technical evaluation process and commercial bids opening, the contract negotiation procedure between Bharat Forge and the Indian Ministry of Defence is currently underway.

The contract negotiation procedure is expected to conclude before the end of the current financial year 2024-25.

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Net profit of Bharat Forge rose 7.20% to Rs 243.59 crore in the quarter ended September 2024 as against Rs 227.23 crore during the previous quarter ended September 2023. Sales declined 2.27% to Rs 3688.51 crore in the quarter ended September 2024 as against Rs 3774.19 crore during the previous quarter ended September 2023.

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The Board of Bharat Forge at its meeting held on 14 November 2024 has approved the following change in senior management:

(a) Krishnan Iyer - President and Chief Operational Officer (COO) of Closed Die Forging Division (CDFD) is designated as SMP w.e.f 14 November 2024.

(b) Srinivasu Malladi - Vice President Human Resources (HR) is designated as SMP w.e.f. 14 November 2024.

(c) Resignation of Atul Jagtap as Vice President – Materials with effect from 24 November 2024

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