Bharat Forge share price: Bharat Forge shares fall 1.51% as Sensex rises

Shares of Bharat Forge Ltd. traded down 1.51% to Rs 762.35 at 12:58 (IST) on Wednesday, even as the benchmark BSE Sensex gained 296.69 points to 57,444.01.

The certificate had closed at Rs 774.05 in the previous session. The stock quoted a 52-week high of Rs 848.0 and a 52-week low of Rs 595.85, respectively. According to BSE data, the total trading volume on the counter till 12:58 PM (IST) stood at 16,421 shares with a turnover of Rs 1.25 crore.

At the current price, the company’s shares were trading at 32.55 times its 12-month EPS of 23.47 rupees per share and 4.97 times its price-to-book ratio, according to exchange data.

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

The price-to-book ratio indicates the intrinsic value of a company and reflects the price that investors are willing to pay even without growth of the company. The stock’s beta, which measures its volatility relative to the broader market, was 1.45.

Shareholding details

The promoters held 45.25% of the company’s capital as of June 30, 2022, while the FIIs held 18.82% and the DIIs 18.9%.

Techniques

On the technical charts, the relative strength index (RSI) of the stock stands at 54.94. The RSI oscillates between zero and 100. Traditionally, it is considered an overbought condition when the RSI value is above 70 and an oversold condition when it is below 30. Chartists say that the RSI should not be considered in isolation, as it may not be enough to take a trade call, just as fundamental analysts cannot give a “buy” or “sell” recommendation using a single valuation ratio.

Eleanor C. William