By Sameet Chavan The weakness in the global market led to a mild start in Indian equities, wherein the benchmark index opened tepid on the weekly expiry session on Thursday. Soon after, the bulls grabbed the opportunity and made a modest recovery in the index, but the correction got triggered again at the higher levels. […]
Pune-based leading forging firm, Bharat Forge Q3FY23 standalone revenue of Rs 1,950 crore +22% y-y was 1-3% was above our forecast and the Bloomberg consensus estimate. Ebitda margin at 25.3% was impacted by -40 bp q-q decline in raw material (RM)/sales at 44.1%. Overseas subs Ebitda margin remained weak at -5.8%. Management commentary: Our view: […]
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