Shares of Bharat Forge soared over 5 percent in morning deals on April 25 after the stock got a double upgrade from Bank of America (BofA) Securities. The international brokerage now has a ‘buy’ call on the stock with a raised target price of Rs 1,450 per share, implying an 18 percent upside from the previous closing price.Analysts at BofA Securities anticipate that the downcycle in the US tru...

Indian equity markets are expected to open in the red on Wednesday as trends in the SGX Nifty indicated a gap-down opening benchmark indices BSE Sensex, NSE Nifty 50 with a loss of 329 points. In the previous session, Sensex rose 456 points to 60,571, while the Nifty climbed 134 points to 18,070 and formed a small-bodied bullish candle on the daily charts. “The biggest catalyst and next directio...

BHFC reported Q4FY22 Ebitda of Rs 4.3 bn, 3?low our estimates due to RM headwinds. We expect strong growth for the company led by (i) recovery in the domestic CV segment, (ii) strong order wins including the defence segment and (iii) market share gains in the PV segment. However, we expect margin pressures to persist. Given >50% of the revenues are derived from cyclical segments, we await a better...

Bharat Forge reported a consolidated net profit of Rs 421.2 crore for the October-December quarter of 2021 against a loss of Rs 209.30 crore it had posted in the corresponding quarter in the previous year. Consolidated revenues during the quarter grew by 39% year-on-year (y-o-y) to Rs 2,394 crore. The company reported a 264% y-o-y growth in standalone net profit to Rs 337 crore, while standalone ...

BSE Sensex and Nifty 50 ended in the green for the third straight day on Thursday, as indices gained nearly one per cent. BSE Sensex jumped 460 points or 0.8 per cent to 58,926, while Nifty 50 index ended at 17,605, up 0.8 per cent. Bank Nifty gained nearly one per cent to trade at 38,993.65. Ahead of Friday’s trade, SGX Nifty extended losses, falling 1.08 per cent or 191 points to 17415, hin...