Bharat Forge hits 23-month low; stock falls 32% in four months

The stock was down 4% to Rs 470 on the BSE in early morning trade, its lowest level since February 1, 2017.

Shares of Bharat Forge (BFL) hit a 23-month low of Rs 470 per share, down 4 per cent on the BSE in early morning trade in an otherwise firm market after the domestic automobile companies reported disappointing sales numbers during the month of December 2018 on account of adverse macroeconomic conditions.

The stock of auto ancillary firm was trading at its lowest level since February 1, 2017. In the past four months, it has underperformed the market by falling 32 per cent, as compared to a 6 per cent decline in the S&P BSE Sensex.

Among the automobile companies, Maruti Suzuki