{"id":12699,"date":"2022-11-23T12:18:51","date_gmt":"2022-11-23T06:48:51","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=12699"},"modified":"2022-11-23T12:18:51","modified_gmt":"2022-11-23T06:48:51","slug":"with-a-quasi-defence-play-bharat-forge-offers-an-opportunity-for-long-term-investors","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/with-a-quasi-defence-play-bharat-forge-offers-an-opportunity-for-long-term-investors\/","title":{"rendered":"With a quasi defence play, Bharat Forge offers an opportunity for long-term investors"},"content":{"rendered":"

Bharat Forge is India’s biggest auto component supplier, with excellent forging and metallurgy capabilities. With an annual production capacity of 6.83 lakh MT, its products are used in domestic and overseas markets for things like PV (Passenger Vehicle), CV (Commercial Vehicle), oil and gas, building and mining, electricity, and defence. The company recently reported its Q2FY23 results on 14th November 2022 where they saw their profitability under pressure as it went on to fall 13% YoY and 6.6% QoQ.<\/p>\n

On the technical charts, last month it gave a breakout on daily charts as it went to reach its 52-week high before Q2FY23 results, after which it has seen a major retracement. Despite the correction, some brokerages still hold a positive view of the stock which makes it worthy of analysis by investors. So, let\u2019s now analyse the Q2FY23 performance of Bharat Forge and understand its future prospects.<\/p>\n

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