IDFC Bank, Bharat Forge, Kesoram Industries, MRF, IFCI, Reliance Capital, Ramco Cement, SRF, Bombay Burmah Trading Corporation and Ajanta Pharma are among the 30 stocks from the S&P BSE 500 index hitting their respective 52-week highs in intra-day trade
Forging major Bharat Forge's stock was down over 3% during the early hours of trading on concerns of growth in the first quarter and corporate governance issues. The stock at Rs 722.80 was down 3.17% compared to the previous close.
Bharat Forge has moved higher by 3% to Rs 817, recovering 4% from intra-day’s low on the National Stock Exchange (NSE), after the company said that it has been awarded a contract from Boeing for supply of 777X titanium forging.
Shares of Bharat Forge have gained nearly 3% to quote at Rs 812 on the Bombay Stock Exchange (BSE) after state-owned Life Insurance Corporation (LIC) raised its stake in Bharat Forge by 2.02% via purchase of 47.12 lakh shares in the open market.
A sharp fall in non-automobile exports, down about 30 per cent over a year, led to muted growth in revenue for Bharat Forge in the September quarter. Standalone revenue was down by about two per cent to Rs 1,116 crore.
Low sales especially from its exports market and decline in revenue from industrial segment impacted Bharat Forge' second quarter results for FY16. The company's stock dipped 6% at Rs 814.9. The company reported a flat profit after tax for the quarter
Bharat Forge has dipped 6% to Rs 815, its lowest level since November 2014 on the NSE, after the company reported a lower-than-expected net profit and revenues for the quarter ended September 30, 2015 (Q2FY16).