Market

Shares of Bharat Forge fall as Nifty drops

Shares of Ltd. slipped 0.95 per cent to Rs 783.15 in Thursday’s trade as of 11:38AM (IST). It hit a high of Rs 820.0 and low of Rs 782.0 during the session.

The stock quoted a 52-week high price of Rs 832.15 and a low of Rs 383.05. The return on equity for the stock stood at -2.33 per cent. About 23,335 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 1.45.

The scrip has been an outperformer, up 95.27 per cent in the past one year in comparison with a 42.51 per cent gain in Sensex.

Technicals

On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 383.05 on August 05, while the 50-DMA was at Rs 760.76. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding

Promoters held 44.76 per cent stake in Bharat Forge Ltd. as of 30-Jun-2021. Mutual funds and foreign institutional investors held 10.92 per cent and 25.3 per cent stake.

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