Bharti Infratel and Bharat Forge are likely to be added to the exchange-traded fund (ETF) "tracked by overseas investors" buying list in the upcoming rebalancing, says a report by Kotak Institutional Equities.
Alstom Bharat Forge Power Ltd (ABFPL), the joint venture company between Alstom and Bharat Forge, has signed a contract worth approximately $130 million (Rs 1,136.5 crore) with NTPC Limited to supply two units of 660 MW supercritical turbine islands for
Pune-based KPIT Technologies Ltd, a software consulting and product engineering solutions firm, has informed BSE that has acquired the 50 per cent stake held by Bharat Forge in Impact Automotive Solutions for Rs 10.80 crore.
The sound of metal-on-metal echoes through Bharat Forge's plant on the outskirts of Pune, as giant machines fashion crankshafts, drilling connectors, axles and scores of products for trucks, cars and heavy industry across the globe.
Driven by strong performance in exports and favourable product mix, Bharat Forge beat expectations in the June quarter. Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins at 29.4 per cent stood at a 20-quarter high.
Investors are look for multi-baggers, stocks that give super-normal returns in a short span of time. With benchamarks running up 23% over the last six months, it would be tough to look for multi-baggers.
Bharat Forge is trading higher by 3% at Rs 428 after the company said that its German subsidiary, Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multiyear contract worth EUR 250 million from a German OEM to supply suspension components.