Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
584.80
Change Change %
-5.25 -0.89%

Updated:14 Nov, 2018, 15:59 PM IST

BSE
585.70
Change Change %
-3.65 -0.62%

Updated:14 Nov, 2018, 16:01 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
CLSA
N/A
14-10-2015 Sell 890.00 745.00
N/A
Target Hit Custom
14-10-2016

CLSA downgrades Bharat Forge to sell

Company's operational outlook has weakened significantly. Extent of slowdown in exports has surprised us negatively. Company has good structural drivers given improving capabilities. Have cut FY2016-18 earnings per share estimates by 7-26 per cent and are now 9-21 per cent below consensus. Valuations should contract sharply from 22times  FY17 estimated price earnings multiple. Stock has come off from its peak but we see further downside.

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