Stock Radar: Bharat Forge stock showing signs of bottoming out after over 30% fall from highs; time to buy?
Bharat Forge Ltd, part of the auto component space, bounced back after testing Rs 900 levels but the stock is still down by about 30% from the highs.Short-term traders with a high-risk profile can look to buy the stock for a target above Rs 1300 levels in the next few weeks, suggest experts.The auto component stock hit a high of Rs 1,826 on June 21, 2024, but it failed to hold the momentum. It closed at Rs 1,270 on June 3, 2025 which translates
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
19 minutes ago
- Business Standard
Muthoot Finance jumps 18% in six days
Muthoot Finance rallied 6.75% to Rs 2,447.15, extending gains for the sixth consecutive trading session. Shares of Muthoot Finance surged 18.46% in six trading sessions from its recent closing low of Rs 2,065.85 on 29 May 2025. The stock hit a 52-week high of Rs 2,470.25 today. The counter has soared 121.74% from its 52-week low of Rs 1,665 hit on 23 July 2024. On the BSE, 1.17 lakh shares have been traded so far, compared with average daily volumes of 0.54 lakh shares in the past two weeks. The stock had outperformed the market over the past month, rising 8.95% as against the Sensex's 1.92% rise. The scrip had outperformed the market in the past three months, jumping 12.28% as against a 10.56% rise in Sensex. The counter had also outperformed the market in the past year, soaring 39.71% as against Sensex's 9.48% increase. On the technical front, the stock's daily RSI (relative strength index) stood at 70.551. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day, and 200-day simple moving average (SMA), placed at 2,202.91, 2,205.82, and 2,093.38, respectively. These levels will act as crucial support zones in the near term. Muthoot Finance is the flagship company of the Kerala-based business house, The Muthoot Group, which has diversified operations in financial services, healthcare, education, and hospitality. It is India's largest gold loan-focused NBFC. The company's consolidated net profit surged 29.7% to Rs 1,477.68 crore on a 35.3% rise in total income to Rs 5,652.94 crore in Q4 FY25 over Q4 FY24.
Business Standard
19 minutes ago
- Business Standard
Bajaj Holdings & Investment sells 0.65% stake in Bajaj Finserv
For a consideration of Rs 2,002.21 crBajaj Holdings & Investment (BHIL) has sold 1.04 crore equity shares of Bajaj Finserv (BFS), an associate for an aggregate consideration of Rs. 2,002.21 crore through block deal today. It is approx. 0.65% of paid up capital of BFS. After this block deal, BFS continues to be an associate of by Capital Market - Live News
Business Standard
19 minutes ago
- Business Standard
Larsen & Toubro announces Rs 500 crore ESG bond issuance in partnership with HSBC
Larsen & Toubro has announced a Rs 500 crore ESG bond issuance deal, becoming the first Indian corporate to do so under the Securities and Exchange Board of India's (SEBI) newly introduced ESG and sustainability-linked bond framework. HSBC is acting as the sole lead arranger in this transaction. As part of the ESG Bond deal, L&T is committed to environmental targets, including a decrease in intensity of fresh water withdrawal and emissions of greenhouse gases. These initiatives are in line with the company's long-term sustainability goals of achieving water neutrality by 2035 and carbon neutrality by 2040. We take pride in leading the transition to sustainable finance under SEBI's new ESG framework, said a senior spokesperson from L&T. This bond issuance reinforces our steadfast commitment to sustainable development and responsible business practices while aligning our finances with environmental targets. We are pleased to partner with L&T on the first INR Sustainability Linked Bond under SEBI's guidelines, reinforcing our commitment to supporting the Clean Energy Transition in India. We look forward to partnering with corporates across sectors looking to navigate the paths toward their sustainability goals", said HSBC India.
