Bharat Forge surges on reporting 98% jump in Q3 net profit

Bharat Forge is currently trading at Rs. 345.65, up by 6.95 points or 2.05% from its previous closing of Rs. 338.70 on the BSE.

The scrip opened at Rs. 340.05 and has touched a high and low of Rs. 347.00 and Rs. 338.60 respectively. So far 40,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 353.00 on 03-Feb-2014 and a 52 week low of Rs. 185.55 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 353.00 and Rs. 321.30 respectively. The current market cap of the company is Rs. 8,040 crore.

The promoters holding in the company stood at 46.74% while Institutions and Non-Institutions held 31.07% and 22.18% respectively.

The company has reported 97.74% rise in its net profit at Rs 93.97 crore for the quarter, as compared to Rs 47.52 crore for the same quarter in the previous year. Total income of the company increased by 23.90% at Rs 857.47 crore for quarter under review as compared to Rs 692.03 crore for the quarter ended December 31, 2012.

Bharat Forge engages in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.