Bharat Forge: Stock under pressure, investors need to await growth momentum

Company decides not to give an outlook as customers turn cautious amid worries of a second Covid-19 wave

A muted September quarter, and cautious commentary by the management — especially on the exports front — weighed on the Bharat Forge stock, which shed close to 4 per cent on Wednesday, after having gained 57 per cent since the start of July. 

Though the company was expected to post muted revenues owing to pressure across segments, the 30 per cent decline over the year-ago quarter was more than what was estimated. 
 

The decline was driven by the exports segment, which fell 40 per cent compared to the year-ago level. The share of exports to overall revenues — at 62 per