The stock has gained 33 percent in the last few weeks after a sharp decline in the January-April period.
All changes will be made as of the close of May 29,2020 (effective June 1,2020).
Bharat Forge is commencing operations in a graded manner with the Baramati facility reopening from May 5 and we expect production to commence by end of the week, the company said.
The company plans to commence operations at the facility with immediate effect after obtaining permission from the local district authority (MIDC, Baramati), Bharat Forge said in a statement.
The complete lockdown will hit revenues of the company 40 percent of which depends on domestic and export components for trucks
The drones can lift weights of 65 kilograms and fly at an altitude of 6,000 meters.
Prabhudas Lilladher recommended hold rating on Bharat Forge with a target price of Rs 481 in its research report dated February 10, 2020.
Moneycontrol’s Sakshi Batra does a 3-Point Analysis to understand the key earnings fineprint and the outlook on Bharat Forge.
Consolidated revenue was down 36.4 percent YoY to Rs 1,076.7 crore for the quarter ended December 31, 2019.
Kalyani Group of Companies are BF Utilities, Bharat Forge, BF Investment and Kalyani Investment Company.
On month-on-month basis as well, Class 8 truck sales declined 21.7 percent in November.
After disappointing numbers in the September quarter posted by Bharat Forge, Sakshi Batra does a 3 point analysis of the earnings fineprint and the outlook on the company.
According to sources, the registration charge may be removed for exchange of old to new cars and there may be heavy road tax on cars older than 15 years.
Kotak sees risks to Indian component suppliers' earnings (Motherson, BHFC, Balkrishna and Varroc Engineering) as they are linked to global auto OEM demand.
ICICI Direct recommended hold rating on Bharat Forge with a target price of Rs 450 in its research report dated November 11, 2019.
Maintaining a neutral call on the stock, Japanese brokerage Nomura raised the target price to Rs 458 from Rs 408 per share.
Bharat Forge's shipment tonnage in Q2 dropped 23.2 percent compared to year-ago.
Bharat Forge earns 15 percent revenue from the North American truck market
Prabhudas Lilladher recommended Hold rating on Bharat Forge with a target price of Rs 430 in its research report dated October 11, 2019.
Net Sales are expected to decrease by 25.4 percent Y-o-Y (down 7 percent Q-o-Q) to Rs. 1,252.7 crore, according to ICICI Direct.
The company is looking to run the plant at full capacity by 2024
Trends on SGX Nifty indicate a gap-down opening for the broader index in India, with a 100 points loss or 0.90 percent. Nifty futures were trading around 11,011-level on the Singaporean Exchange.