Shares of Bharat Forge  fall  as Nifty  gains

On the technical charts, the 200-day moving average of the stock stood at Rs 1039.23.

Shares of slipped 0.08 per cent to Rs 1151.2 in Thursday's trade as of 11:36AM (IST). It hit a high of Rs 1157.3 and low of Rs 1137.55 during the session.

The stock quoted a 52-week high price of Rs 1330.0 and a low of Rs 744.0. The return on equity for the stock stood at 7.87 per cent. About 6,250 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.45.

The scrip has been an outperformer, up 41.07 per cent in the past one year in comparison with a 19.81 per cent gain in .

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 744.0 on February 29, while the 50-DMA was at Rs 1210.39. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 45.25 per cent stake in as of 31-Dec-2023. Mutual funds and foreign institutional investors held 19.84 per cent and 16.6 per cent stake.

Source: Stocks-Markets-Economic Times

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