Bharat Forge sours like lemon

Bharat Forge is very volatile today; from its close of Rs.1215.20 yesterday, it opened 1% higher at Rs.1227.35 and rose further to Rs.1235.45, up almost 2%. From here, profit booking took over and the stock is now in the red, down almost 2% at Rs.1194 levels, with more sellers than buyers on the counter.

There was good news from the company before selling set in. While not yet confirmed by the company, Economic Times reported that the company is in talks with Apple to make Bharat Forge a vendor for its product in India.

If the deal is finalised, Bharat Forge will supply components, including mechanical parts, to the US-based tech giant.

This development would make Bharat Forge the latest Indian company to partner with Apple, joining the Tata Group, Motherson Group, and Aequs.