Market

Bharat Forge shares gain 0.17% as Sensex rises

Shares of Ltd. traded 0.17 per cent up at Rs 728.25 at 01:43PM (IST) on Friday, even as BSE benchmark Sensex gained 175.68 points to 56124.78.

The scrip had settled at Rs 727.05 in the previous session. The stock quoted a 52-week high price of Rs 846.6 and 52-week low of Rs 427.95, respectively. As per BSE data, total traded volume on the counter till 01:43PM (IST) stood at 19522 shares with a turnover of Rs 1.41 crore.

At the current price, the stock traded at 280.31 times its trailing 12-month EPS of Rs 2.6 per share and 5.13 times its price-to-book value, BSE data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 1.45.

Shareholding Details

Promoters held 44.76 per cent stake in the company as of 30-Jun-2021, while FIIs owned 25.3 per cent and DIIs 10.92 per cent.

Technicals

On the technical charts, the relative strength index (RSI) of the stock stood at 39.3. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a’buy’ or’sell’ recommendation using a single valuation ratio.

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