Bharat Forge: Investors should wait for improvements in orders, core biz
After a weak Q1, sales to recover in key segments barring oil and gas
The Bharat Forge stock has gained 5.3 per cent on expectations of a gradual growth uptick in the coming quarters, upside from defence orders and margin outlook. While the June quarter was a wash out given the lockdown, the management indicated that there have been some ‘green shoots’ in most segments, both in domestic and export markets.
For the September quarter, the company expects domestic sales to be at the same levels as in the year ago quarter led by the upcoming festival season. Domestic sales accounted for 36 per cent of sales in the June quarter. On the exports ...
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard
First Published: Wed, August 12 2020. 19:57 IST