BSE Code: | NSE Code: | ISIN: | Sector:

NSE
628.15
Change Change %
-1.50 -0.24%

Updated:19 Oct, 2017, 19:44 PM IST

BSE
629.05
Change Change %
0.10 0.02%

Updated:19 Oct, 2017, 19:43 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
HDFC Securities
N/A
11-08-2017 Hold 1157.25 1088.00
N/A
Target Hit Long (1Y)
11-08-2018

HDFC Securities maintains neutral on Bharat Forge

Bharat Forge's (BHFC) 1QFY18 performance was in-line with expectations of APAT, while strong exports aided revenue beat. With a revival in the overseas industrial segment, the outlook for BHFC remains healthy. Its strategies for Aerospace, Defense and Auto transmission parts provide reason for optimism. However, all these segments' contributions would be visible only from FY20E. North American truck demand has also recovered from the bottom, and production volumes are expected to accelerate in CY18. Domestic MHCV demand could slip further given the weak demand environment. We thus see limited upsides to current stock price.

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