Bharat Forge is one of the biggest Forging companies in the country. It has done a great job in the last few years to diversify its business and its entry into the defense space for Artillery Systems, E mobility etc. has allowed it to diversify its revenue streams going forward. Recently it was awarded license by GOI to participate in potential defense programs.
The stock has just touched ATH at 938.3 on Aug 1st after which it has comeback to 905.75. Its Aluminium business is expected to perform well going forward which was a drag in last few quarters.
Technically 30WMA has started to turn upwards and crossed 30WMA and 40WMA. With results out this week, Good Mgt commentary especially around Defense business should push the stock further up.
Disclaimer: Invested from 800 levels. View might be biased.
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