News

Neutral Bharat Forge Ltd For Target Rs.1,470 By Motilal Oswal Financial Services Ltd Defense to remain growth driver Near-term demand weak for other segments We met BHFC’s management team recently to understand the company’s growth outlook in the coming years. Key growth drivers for BHFC would be: 1) the robust order backlog of INR54b in defense exports to be executable over the next three years, along with the prospects of the beginning of domestic defense orders soon; 2) with new order wins and multiple initiatives, JS Autocast (JSA) is likely to emerge a...
Neutral Bharat Forge Ltd For Target Rs.1,470 By Motilal Oswal Financial Services Ltd
Neutral Bharat Forge Ltd For Target Rs.1,470 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-09-25 12:38:27 pm
Neutral Bharat Forge Ltd Target Rs. R1,470 By Motilal Oswal Financial Services Ltd Defense business remains key growth driver Performance improvement at overseas subs key monitorable * Bharat Forge’s (BHFC) 1QFY25 standalone performance was in line with our estimates. Revenue growth was largely driven by defense business even as most of its other segments saw weak demand. Overseas subsidiaries are showing signs of gradual improvements. * We have reduced our FY25E EPS estimate by 10% to factor in demand weakness in domestic/export CVs and overseas subsidiaries...
Neutral Bharat Forge Ltd Target Rs. R1,470 By Motilal Oswal Financial Services Ltd
Neutral Bharat Forge Ltd Target Rs. R1,470 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-08-24 02:39:22 pm
Buy Bharat Forge Ltd For Target Rs. 1,850 By Emkay Global Financial Services BHFC logged healthy operating profit in Q1 (4% beat on EBITDA despite a ~4% miss on revenue), amid improvement in profitability at subsidiaries. BHFC expects a stable-to-positive business outlook, with profitability at overseas subsidiaries seen improving this year and the next. Order win momentum sustained (Q1: Rs9.8bn ), particularly in Defence, with orderbook at Rs54bn now vs Rs52bn in Q4, even as domestic artillery gun orders are yet to follow. Outlook for base businesses is also improvin...
Buy Bharat Forge Ltd For Target Rs. 1,850 By Emkay Global Financial Services
Buy Bharat Forge Ltd For Target Rs. 1,850 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-08-11 10:35:44 am
Add Bharat Forge Ltd For Target Rs. 1,770 By Yes Securities Defence outshine weakness in other segments Valuation and View – Diversified revenue base to cushion weak auto Bharat Forge (BHFC) 1QFY25 results were in-line to our/street. ASP came in lower at ~Rs346.4k/ton (+10.4% YoY/ -0.9% QoQ, est Rs356k), partially offset by better tonnage at 67.5k tons (-0.4% YoY/ +1.3% QoQ, est 66.7k tons). The key highlight of the quarters was, ramp-up in defence business with 1QFY25 revenues at Rs6.42b (vs ~Rs15.6b in FY24) with cumulative order book at...
Add Bharat Forge Ltd For Target Rs. 1,770 By Yes Securities
Add Bharat Forge Ltd For Target Rs. 1,770 By Yes Securities
Source: Yes Securities Ltd
2024-08-11 09:49:17 am
Buy Bharat Forge Ltd For Target Rs.1,700 By JM Financial Services In 1QFY25, Bharat Forge (BHFC) reported consolidated revenue was 3% below JMFe on weak export performance partially offset by strong ramp-up in defence segment. Standalone EBITDAM came-in at 27.9% (+210bps YoY). Consol. EBITDAM increased 260bps QoQ to 18% (+270bps YoY), 150bps above JMFe led by improvement in profitability at subsidiaries. Management highlighted that while NA Class 8 demand remains steady, EU CV sales remain weak. Outlook for domestic CV segment is flattish. While the growth ...
Buy Bharat Forge Ltd For Target Rs.1,700 By JM Financial Services
Buy Bharat Forge Ltd For Target Rs.1,700 By JM Financial Services
Source: JM Financial Services Ltd
2024-08-10 12:31:09 pm
India`s defence exports record over 30-fold quantum leap in last 10 years India’s defence exports have recorded a 30-fold quantum leap over the last 10 years from a mere Rs 686 crore in the financial year 2013-14 to a record Rs 21,083 crore in FY 2023-24, reflecting the global acceptability of Indian defence products and technologies.  With exports reaching more than 85 countries across Southeast Asia, the Middle East, Africa and Latin America, India’s defence industry has shown its capability of design and development to the world, with around ...
India`s defence exports record over 30-fold quantum leap in last 10 years
India`s defence exports record over 30-fold quantum leap in last 10 years
Source: IANS
2024-07-14 01:42:19 pm
Buy Bharat Forge Ltd. For Target Rs. 1,400 By JM Financial Services Strong Defence/Aerospace orderbook to offset weakness in CVs In 4QFY24, Bharat Forge (BHFC) reported standalone/consolidated revenue beat of 2% / 6% was led by strong ramp-up in defence segment. Standalone EBITDAM came-in at 28.3% (+390bps YoY), 100bps below JMFe owing to unfavourable mix. Consol. EBITDAM declined 260bps QoQ to 15.4% (+340bps YoY). Management highlighted that Class 8 demand remains sluggish in both NA and EU. Outlook for domestic CV segment is flattish. While the growth in...
Buy Bharat Forge Ltd. For Target Rs. 1,400 By JM Financial Services
Buy Bharat Forge Ltd. For Target Rs. 1,400 By JM Financial Services
Source: JM Financial Services
2024-07-01 04:03:53 pm
BUY Bharat Forge Ltd. For Target Rs. 1,650- Emkay Global Financial Services Upgrade to BUY on robust Defense wins, healthy growth outlook BHFC reported a steady Q4 (17% standalone rev. growth; margins slightly ahead of estimates at 28.3%). The company continues to post robust order wins in Defense (order book now at Rs52bn vs. Rs20bn in Q3; largely exports for now, with domestic artillery gun orders yet to follow), even as base business outlook has also improved vs. earlier expectations (sees flattish performance in CVs; witnessing strong market share gains in oth...
BUY Bharat Forge Ltd. For Target Rs. 1,650- Emkay Global Financial Services
BUY Bharat Forge Ltd. For Target Rs. 1,650- Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-06-27 05:58:52 pm
ADD Bharat Forge Ltd. For Target Rs. 1,531 - Yes Securities Defence order wins strong; Downgrade to ADD Valuation and View – Diversified revenue base to cushion weak auto Bharat Forge (BHFC) 4QFY24 results were in-line to our/street. This was led by better-than-expected ASPs at ~Rs349.5k/ton (+13.1% YoY/ +4.2% QoQ, 21 quarter high, est Rs334k), partially offset by weak tonnage at 66.6k tons (+3% YoY/ -1.3% QoQ, est 69k tons). The key highlight of the quarters was, 1) ramp-up in defence business with FY24 revenues at ~Rs15.6b with cumulativ...
ADD Bharat Forge Ltd. For Target Rs. 1,531 - Yes Securities
ADD Bharat Forge Ltd. For Target Rs. 1,531 - Yes Securities
Source: Yes Securities Ltd.
2024-06-24 02:33:19 pm
Neutral Bharat Forge Ltd. For Target Rs.1,370 - Motilal Oswal Financial Services Operating performance in line Positives appear fully priced in * Bharat Forge’s (BHFC) 4QFY24 standalone performance was in line with our estimates. Management sounded quite positive about demand in FY25, led by the scaling up of defense orders, stable US Class 8 orders, and turnarounds in overseas subsidiaries. * While the earnings outlook is positive, it seems fully priced in at valuations of 36x/29x FY25E/FY26E, after the recent sharp run up in the stock. We hence downgrade ...
Neutral Bharat Forge Ltd. For Target Rs.1,370 - Motilal Oswal Financial Services
Neutral Bharat Forge Ltd. For Target Rs.1,370 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-21 12:04:42 pm
Bharat Forge gains on making additional investment of $40 million in Bharat Forge America Bharat Forge is currently trading at Rs. 1711.55, up by 15.20 points or 0.90% from its previous closing of Rs. 1696.35 on the BSE. The scrip opened at Rs. 1721.75 and has touched a high and low of Rs. 1732.00 and Rs. 1709.25 respectively. So far 2148 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1739.00 on 14-Jun-2024 and a 52 week low of Rs. 800.00 on 26-Jun-2023. Last one week high and low of the scrip stood...
Bharat Forge gains on making additional investment of $40 million in Bharat Forge America
Bharat Forge gains on making additional investment of $40 million in Bharat Forge America
Source: Accord Fintech
2024-06-19 09:49:09 am
Accumulate Bharat Forge Ltd For Target Rs. 1,550 - Elara Capital Industrial business outlook improves Defence orders and PV exports aid in 17% YoY growth Bharat Forge (BHFC IN) Q4 standalone revenue grew 17% YoY and 3% QoQ to INR 23.3bn, led by 6% exports revenue growth and 38% growth in domestic revenue. Key drivers include domestic industrial, up 94% YoY, propped up by supply to Kalyani Strategic Systems (KSSL), and exports PV segments, up 30% YoY. The underperformer was the domestic CV segment, which contracted 15% due to lower CV industry volume...
Accumulate Bharat Forge Ltd For Target Rs. 1,550 - Elara Capital
Accumulate Bharat Forge Ltd For Target Rs. 1,550 - Elara Capital
Source: Elara Capital
2024-05-18 11:27:16 am
Bharat Forge soars on reporting 78% rise in Q4 consolidated net profit Bharat Forge is currently trading at Rs. 1441.25, up by 33.15 points or 2.35% from its previous closing of Rs. 1408.10 on the BSE. The scrip opened at Rs. 1409.95 and has touched a high and low of Rs. 1445.00 and Rs. 1390.25 respectively. So far 87292 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1446.55 on 08-May-2024 and a 52 week low of Rs. 753.10 on 19-May-2023. Last one week high and low of the scrip stoo...
Bharat Forge soars on reporting 78% rise in Q4 consolidated net profit
Bharat Forge soars on reporting 78% rise in Q4 consolidated net profit
Source: Accord Fintech
2024-05-09 11:16:54 am
Bharat Forge registers 59 pc surge in Q4 net profit Auto and defence component manufacturer Bharat Forge on Wednesday reported a 59.3 per cent surge in net profit to Rs 389.6 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 244.5 crore in the same period of the previous year. The total revenue of Bharat Forge during the fourth quarter rose 16.6 per cent to Rs 2,328.5 crore from Rs 1,997.3 crore last year. The company informed the BSE that it has “recommended a final dividend of Rs 6.50 per e...
Bharat Forge registers 59 pc surge in Q4 net profit
Bharat Forge registers 59 pc surge in Q4 net profit
Source: IANS
2024-05-08 04:05:59 pm
Stock of the day : Bharat Forge Ltd For Target Rs.1260- Religare Broking Bharat Forge Ltd * BHARATFORG failed to give any follow-up downward movement after a strong one day fall and went into a prolong consolidation. * This created a sturdy base and resulted into a double bottom pattern formation. * Looking at the price action and its positioning above key moving averages, the stock is all set to register a breakout from the same. * We thus recommend creating fresh longs in the mentioned range. Buy Bharat Forge Ltd CMP 1...
Stock of the day : Bharat Forge Ltd For Target Rs.1260- Religare Broking
Stock of the day : Bharat Forge Ltd For Target Rs.1260- Religare Broking
Source: Religare Broking Ltd
2024-04-22 11:27:39 am
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH Bharat Forge is currently trading at Rs. 1138.80, up by 5.95 points or 0.53% from its previous closing of Rs. 1132.85 on the BSE. The scrip opened at Rs. 1131.35 and has touched a high and low of Rs. 1145.45 and Rs. 1125.55 respectively. So far 15391 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1330.00 on 12-Feb-2024 and a 52 week low of Rs. 744.00 on 10-Apr-2023. Last one week high and low of the scrip stood...
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH
Bharat Forge soars on infusing funds in Bharat Forge Global Holding GmbH
Source: Accord Fintech
2024-02-23 03:17:31 pm
Buy Bharat Forge Ltd For Target Rs.1,250 - Motilal Oswal Financial Services Ltd In-line result; demand commentary a mixed bag Wins orders of INR7.4b for SA business in 1H (incl. INR3b for e-mobility) * Bharat Forge (BHFC)’s 2QFY24 standalone performance was in line. The company reported record high shipment tonnage at 70.3k tons during the quarter, registering 15% YoY growth. However, the overall demand commentary was a mixed bag, as outlook for the India business remains positive while overseas business growth is anticipated to remain flattish. * We cut o...
Buy Bharat Forge Ltd For Target Rs.1,250 - Motilal Oswal Financial Services Ltd
Buy Bharat Forge Ltd For Target Rs.1,250 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2023-12-13 12:37:46 pm
Buy Bharat Forge Ltd For Target Rs.1,295- Yes Securities Defence ramp-up to be healthy in rest of FY24E Valuation and View – Overall outlook steady to positive Bharat Forge (BHFC) 2QFY24 results were ahead of our/street estimates by 4-9% on EBITDA. This was led by better-than-expected volumes which came in at 70.3k tons (+2% QoQ, 19 quarter high) and ASP at ~Rs320k (est Rs310k, +5% YoY/ ~2% QoQ). The positive highlight of the quarters was, 1) continued traction in the defence business with cumulative order book at ~Rs30b (v/s Rs22-23b i...
Buy Bharat Forge Ltd For Target Rs.1,295- Yes Securities
Buy Bharat Forge Ltd For Target Rs.1,295- Yes Securities
Source: Yes Securities Ltd
2023-12-09 12:24:52 pm
Bharat Forge gains as its arm signs agreement to acquire 51% stake in Zorya Mashproekt India Bharat Forge is currently trading at Rs. 1174.35, up by 9.50 points or 0.82% from its previous closing of Rs. 1164.85 on the BSE. The scrip opened at Rs. 1165.15 and has touched a high and low of Rs. 1180.00 and Rs. 1165.15 respectively. So far 8652 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1185.90 on 05-Dec-2023 and a 52 week low of Rs. 744.00 on 10-Apr-2023. Last one week high and low of the scrip stood ...
Bharat Forge gains as its arm signs agreement to acquire 51% stake in Zorya Mashproekt India
Bharat Forge gains as its arm signs agreement to acquire 51% stake in Zorya Mashproekt India
Source: Accord Fintech
2023-12-08 10:53:43 am
Hold Bharat Forge Ltd For Target Rs.1,030 - Emkay Global BHFC’s Q2FY24 EBITDA margin was up 118bps QoQ to 27% (PAT in line with Consensus). While we take cognizance of the Defence ramp-up (build 20% SA revenue contribution in FY26E vs. ~5% in FY23), the outlook for underlying CV industries (global and domestic) and industrial exports is softening (global CV OEMs have projected ~8-15% industry decline in developed markets in 2024; domestic CV growth to moderate on a high base; industrial exports outlook muted as well). We build ~17% FY23-26E E...
Hold Bharat Forge Ltd For Target Rs.1,030 - Emkay Global
Hold Bharat Forge Ltd For Target Rs.1,030 - Emkay Global
Source: Emkay Global Financial Services
2023-11-22 02:39:22 pm
Buy Bharat Forge Ltd For Target Rs.1,150 - JM Financial Services Healthy performance; Improvement in int’l biz. profitability remains key In 2QFY24, Bharat Forge (BHFC) reported standalone EBITDAM of 27.0% (+270bps YoY, +120bps QoQ), 100bps above JMFe. Avg. realisation improved +2% QoQ (+5% YoY). Consol. EBITDA margin improved 110bps QoQ to 16.5% (+240bps YoY). Management highlighted that Class 8 demand remains steady in NA & EU. Order book remains healthy for BHFC across verticals. The company expects Defence business to grow in strong double...
Buy Bharat Forge Ltd For Target Rs.1,150 - JM Financial Services
Buy Bharat Forge Ltd For Target Rs.1,150 - JM Financial Services
Source: JM Financial Institutional Securities Ltd
2023-11-18 11:25:59 am
Bharat Forge rises on getting nod to invest upto Rs 33 crore in Kalyani Powertrain Bharat Forge is currently trading at Rs. 1031.00, up by 4.20 points or 0.41% from its previous closing of Rs. 1026.80 on the BSE. The scrip opened at Rs. 1032.90 and has touched a high and low of Rs. 1040.00 and Rs. 1023.95 respectively. So far 6092 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1147.95 on 18-Sep-2023 and a 52 week low of Rs. 744.00 on 10-Apr-2023. Last one week high and low of the scrip stood ...
Bharat Forge rises on getting nod to invest upto Rs 33 crore in Kalyani Powertrain
Bharat Forge rises on getting nod to invest upto Rs 33 crore in Kalyani Powertrain
Source: Accord Fintech
2023-11-02 02:51:57 pm
Bharat Forge gains on getting nod to make additional investment in Kalyani Powertrain Bharat Forge is currently trading at Rs. 1114.70, up by 6.80 points or 0.61% from its previous closing of Rs. 1107.90 on the BSE.The scrip opened at Rs. 1133.75 and has touched a high and low of Rs. 1142.50 and Rs. 1112.55 respectively. So far 21412 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1121.40 on 12-Sep-2023 and a 52 week low of Rs. 677.85 on 29-Sep-2022.Last one week high and low of the scrip stood at Rs. 1121.40 and ...
Bharat Forge gains on getting nod to make additional investment in Kalyani Powertrain
Bharat Forge gains on getting nod to make additional investment in Kalyani Powertrain
Source: Accord Fintech
2023-09-15 10:43:46am