Emkay view on Bharat Forge:

BHARATFORG

Bharat Forge’s revenue CAGR is expected at 19% in FY22-24E, led by the cyclical recovery in the underlying Auto and Industrial segments in both domestic and overseas markets. Moreover, nascent segments, such as Defense, Aerospace, Railways, Power electronics and Aluminum components, have the potential to cross USD 100mn each in revenues in the medium term.

Our positive view on Bharat Forge is underpinned by its leadership position in automotive forgings, focus on diversification, and an expected recovery in the core segments.

We have a buy rating on the stock with a Dec’22 target price of Rs 950, based on 27x P/E for the standalone business on Dec’23E EPS

Bharat Forge was quoting at Rs 807.35, up Rs 6.80, or 0.85 percent on the BSE.

News Source:- MoneyControl

For Enquiry Fill The Form

    *Note:- Please provide a valid Email Id to receive OTP from bigprofitbuzz.com.

    Facebook Iconfacebook like buttonYouTube IconTwitter Icontwitter follow button