Bharat Forge on the green path
By
Research Desk
about 9 years ago
Bharat Forge is having a good run today. The stock had closed yesterday at Rs.769.75 and it went to an intra day high of Rs.809.95 and it is now at Rs.780 levels.
The stock price has reacted positively to its encouraging Q3FY16 numbers, mainly the EBITDA performance. The company’s net profit declined 15% (YoY) at Rs.1661 crore and this was on a 12% drop in total revenue at Rs.10,520 crore. EBITDA was down 10% at Rs.330 crore but margins showed an increase from 30.6 % to 31.4%.