Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. Bharat Forge Limited
  6. News
  7. Summary
    500493   INE465A01025

BHARAT FORGE LIMITED

(500493)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Indian shares hit record highs on metals rally, dovish Fed prospects

08/30/2021 | 01:30am EDT

BENGALURU, Aug 30 (Reuters) - Indian shares hit record highs on Monday, boosted by automobile and metals' stocks, with sentiment broadly supported by Federal Reserve Chair Jerome Powell's signal that the U.S. central bank would remain patient in winding down its stimulus.

The blue-chip NSE Nifty 50 index climbed 1.03% to 16,877.65 by 0511 GMT and was set for a sixth straight session of gain. The benchmark S&P BSE Sensex was 0.95% higher at 56,658.79.

"Sentiment is extremely bullish and there is a possibility of hitting more records highs. There was a little bit of apprehension on the Fed's stance but that is now out of the way. So, we expect this liquidity flow and investor interest to continue for some time," said Samrat Dasgupta, CEO of Esquire Capital Investment Advisors.

Aluminum and copper producer Hindalco Industries and automaker Tata Motors were among the top performers on the Nifty 50 index, rising more than 2% each.

Bharti Airtel rose as much as 2.4% after the telecom firm said it plans to raise up to 210 billion rupees ($2.86 billion) through a sale of shares to existing shareholders.

Auto parts suppliers Bharat Forge, Sona BLW Precision Forgings, and Sandhar Technologies jumped 6.2%-13.7% after the Economic Times reported https://bit.ly/3yuigWm U.S. electric-car maker Tesla Inc was in talks with at least three local companies to source critical electronic, electrical and mechanical components as part of its plans to enter the Indian market.

Meanwhile, broader Asian shares rose after Powell struck a dovish tone during his long-awaited speech, although investors remained cautious about growth prospects in China.

Looking ahead, India's GDP data is set to be released on Tuesday. The country's economic growth likely touched a record high in the quarter through June, according to a Reuters poll published last week. ($1 = 73.5250 Indian rupees) (Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARAT FORGE LIMITED 0.96% 781.85 End-of-day quote.48.92%
BHARTI AIRTEL LIMITED -1.70% 696.4 End-of-day quote.36.74%
HINDALCO INDUSTRIES LIMITED -3.70% 494 End-of-day quote.105.41%
SANDHAR TECHNOLOGIES LIMITED 0.48% 281.05 Delayed Quote.20.78%
SONA BLW PRECISION FORGINGS LIMITED -2.94% 625.05 End-of-day quote.0.00%
TATA MOTORS LIMITED 4.30% 508 End-of-day quote.176.54%
TESLA, INC. 3.26% 894 Delayed Quote.26.69%
All news about BHARAT FORGE LIMITED
10/11BHARAT FORGE : ICRA Maintains AA+ Rating on Bharat Forge; Keeps Stable Outlook
MT
08/30Indian auto parts makers' shares gain on report of talks with Tesla
RE
08/30Indian shares hit record highs on metals rally, dovish Fed prospects
RE
08/30Indian shares hit record highs on metals rally, dovish Fed prospects
RE
08/16BHARAT FORGE : Nomura Adjusts Bharat Forge's Price Target to 1,088 Indian Rupees From 924 ..
MT
08/16LUPIN : Nomura Adjusts Lupin's Price Target to 1,297 Indian Rupees From 1,399 Indian Rupee..
MT
08/12BHARAT FORGE : Quarterly Results for Jun 2021
PU
08/12Bharat Forge Limited Reports Earnings Results for the First Quarter Ended June 30, 2021
CI
07/26Bharat Forge to Seek Acquisitions
CI
07/21Tata Motors Reportedly Among Big Firms Shortlisted to Bid for BEML
CI
More news
Analyst Recommendations on BHARAT FORGE LIMITED
More recommendations
Financials
Sales 2022 89 608 M 1 197 M 1 197 M
Net income 2022 8 825 M 118 M 118 M
Net Debt 2022 15 354 M 205 M 205 M
P/E ratio 2022 41,6x
Yield 2022 0,60%
Capitalization 364 B 4 864 M 4 864 M
EV / Sales 2022 4,23x
EV / Sales 2023 3,44x
Nbr of Employees 4 394
Free-Float 55,2%
Chart BHARAT FORGE LIMITED
Duration : Period :
Bharat Forge Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BHARAT FORGE LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 781,85 INR
Average target price 874,46 INR
Spread / Average Target 11,8%
EPS Revisions
Managers and Directors
Babasaheb Neelkanth Kalyani Chairman & Managing Director
Kishore Mukund Saletore Chief Financial Officer & Executive Director
Mukund V. Mavalankar Technical Director
Madan Umakant Takale Executive Vice President & Engineering Director
Tejaswini Chaudhari Secretary & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
BHARAT FORGE LIMITED48.92%4 864
BAOSHAN IRON & STEEL CO., LTD.29.24%26 656
JSW STEEL LIMITED73.88%22 030
CHINA STEEL CORPORATION36.97%18 549
CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD.-3.35%16 595
EVRAZ PLC32.10%12 924