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

NSE
1228.50
Change Change %
-22.60 -1.81%

Updated:22 Sep, 2017, 15:04 PM IST

BSE
1228.65
Change Change %
-23.05 -1.84%

Updated:22 Sep, 2017, 15:06 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Nomura
N/A
08-09-2017 Hold 1168.95 1248.00
N/A
Target Hit Long (1Y)
08-09-2018

Nomura maintains neutral on Bharat Forge

BHFC continues to benefit from strong growth in the domestic segment led by market share gains and addition of new components in CVs, strong growth in non-auto led by order wins in defence and heavy machinery. Also, export non-auto would benefit from improving oil and gas outlook in North America. However, the stock is currently trading at around 29.5x/24.4x FY18F/19F EPS, after factoring in the 21% EPS CAGR over FY17-20F, which we believe is expensive. We maintain our Neutral rating and P/E-based TP of INR1,248, which implies around 10% potential upside.

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