Bharat Forge has surged 5% to Rs 349, also its 52-week high on the BSE, after the company said its indirect subsidiary in Hong Kong has shed its 51.85% stake in its Chinese joint venture FAW Bharat Forge (Changchun) Company Ltd in favour of its joint
Forging giant Bharat Forge Ltd's has recorded a drop of 6.3% in its net profit at Rs 964 crore as compare to Rs 1028 crore last year. The company has also witnessed a decline of 2.6% in revenue at Rs 8451 crore as compare to Rs 8,676 crore last year.
The stalemate continues in US as for the second time in recent hours, the Senate has rejected a House Republican effort to derail Obama’s healthcare plan; this in turn is linked to a spending bill that would avert a government shutdown.
Bharat Forge Ltd (BFL)’s revenues were ahead of our estimate. While the demand in the domestic market remained subdued, the export markets showed some recovery after the end of inventory correction by customers.
Despite the global slowdown, forging major Bharat Forge Ltd (BFL) is investing significantly in creating new capacities for non-automotive sector across globe for new business development. The results are gradually becoming evident for BFL.
Forging giant Bharat Forge Ltd's has recorded a drop of 3.4 % in its net profit at 102.8 crore as compare to 106.4 crore last year. The company has also witnessed a decline of 4.7% in revenue at 867.6 crore as compare to Rs 910 cr last year.
Bharat Forge has dipped about 3% to Rs 302 on reporting 8% year-on-year (yoy) growth in net profit at Rs 105 crore for the quarter ended June 30, 2012 due to higher interest cost and de-growth in Indian automotive industry.