Exclusive Webinar :Gain complete knowledge about how you can invest in global markets during an insightful webinar on April 16 at 11 am. Register Now!

Buy Bharat Forge; target of Rs 723: Geojit

Geojit is bullish on Bharat Forge has recommended buy rating on the stock with a target price of Rs 723 in its research report dated February 25, 2021.

February 25, 2021 / 02:39 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Geojit's research report on Bharat Forge


Q3FY21 revenue declined by 6%YoY due to tepid market demand from the Oil & Gas sector. However, faster revival in both US & Europe truck market and strong rebound in domestic market offset further decline. Margin expanded to pre-covid levels at 16.1% owing to continuous restructuring and cost control measure. The Union budget’s focus on Infrastructure development along with vehicle scrappage policy bodes well, for both commercial vehicle and industrial sector growth in the medium term. Government’s initiative to enhance local manufacturing through the announcement of Production linked schemes (PLI) & mission of Atma Nirbharata in defense, has started opening new orders for BFL.



Outlook


Amid crisis, the demand visibility looks attractive on a medium basis for BFL, owing to the growth coming from the CV industry and defence sector and thus reiterate our Buy rating.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 25, 2021 02:39 pm

stay updated

Get Daily News on your Browser
Sections