Bharat Forge rallies 8% on stable business outlook post Q1 results

Shares of Bharat Forge have rallied 8 per cent to Rs 796.55 on the BSE in Friday’s intra-day trade after the company reported in-line performance for the June quarter (Q1FY23) with standalone revenue up 5.1 per cent sequentially at Rs 1,759 crore. Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds caused by monetary tightening.

In the past one month, the stock has outperformed the market by surging 25 per cent, as compared to a 10 per cent rise in the S&P BSE