Large Cap Auto Ancillaries Stock Jumps 47.4% From 52-Week Low, Buy: Motilal Oswal

Brokerage firm Motilal Oswal has assigned buy rating to large cap auto ancillaries sector stock Bharat Forge Ltd with target price of Rs 1250 per share. Current market price of Bharat Forge share on BSE is Rs 1096.65 per share with intraday decline of 1.66%. Bharat Forge shares soared 42% in last 6-months.

If you buy Bharat Forge shares at current market price of Rs 1096.65 apiece, you can fetch likely return of 13.98%. Check details below:

Bharat Forge Stock Performance & Return: The stock's 52-week high price is Rs 1147.95 per share and 52-week low price is Rs 744.00 per share, respectively. Its market capitalisation is Rs 51,049.17 crore. Bharat Forge shares gained 24% YTD, soared 28% in last 1-year, offered 57% return in last 2-years, and rallied 115% in last 3-years. In last 10-years, Bharat Forge shares surged 649%. If the current market price of Bharat Forge share is taken into consideration, the stock has jumped 47.4% from 52-week low price of Rs 744.00 per share.

Bharat Forge Valuation: According to Motilal Oswal, "We cut our EPS by 8%/ 3% for FY24E/25E to factor in slower-than-expected ramp up in overseas subsidiaries. Reiterate BUY with a TP of INR1,250 (based on 27x Dec-25E consolidated EPS + INR133 for two gun platforms)."

Bharat Forge Financials: The company on November 6, 2023 declared its consolidated net profit at Rs 214.86 crore, up 52% year-on-year for the July-September quarter of FY 24 as compared to Rs 141.55 crore in the corresponding period of FY23. Its revenue from operations soared 22.6% to Rs 3774 crore for Q2 pushed by surge in export and growth in domestic revenue from Rs 3076 crore in the corresponding quarter of last fiscal.

Bharat Forge About: The world's largest forging company with manufacturing facilities spread across India, Germany and Sweden, Bharat Forge manufactures a wide range of high performance,critical & safety components for the automotive & non-automotive sector. Technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.