Shares of Bharat Forge Ltd slipped an intraday low
level at Rs400.65 from its previous closing price of Rs.428.50 on
NSE, during mid-market session after the Auto components major
reported muted Q1 numbers.
The Company on Tuesday
reported a 28-pc decline in its Q1 consol net profit at Rs 171.92
crore for the first quarter ended June 30, 2019, due to lower income.
The company had reported a net profit of
Rs.238.74-Cr in the corresponding period of the previous fiscal.
Total income during the quarter under review figured at
Rs.2372.79-Cr, down 3.31pc as against Rs.2454.07-Cr in the
corresponding period a year ago period, Bharat Forge said in the
stock Exchange filing.
The Bharat Forge stock reacted to the reports and
touched its intraday low of Rs.400.65 per share after opening at
Rs.429.20 in the morning trade.
At 1.18am, Bharat Forge share quoted at Rs.402.65
down Rs.26.05 or 6.08% on the NSE. The scrip touched an intraday
high and low of Rs.400 and Rs.430.55 respectively during mid-session.
At the same time, the NSE Nifty scaled at 11088-level, down 81-pts and the BSE Sensex stood at 37,316-level, down by 265-pts.