Rs 850 crore export orders received by this forging company; scrip hit 52-week high!
The stock is up by 35 per cent in 1 year and gave multibagger returns of 105 per cent over the span of 3 years.
Kalyani Strategic Systems Limited, a wholly-owned Defence subsidiary of Bharat Forge Ltd, has bagged two export orders aggregating to EURO 93.87 million (Rs 850 crore) from friendly countries for the supply of components and armoured vehicle chassis to be executed over 18 months timeframe. This is subject to necessary government approvals.
Kalyani Strategic Systems Ltd. (KSSL) is a 100 per cent subsidiary of Bharat Forge Limited, set up as a flagship company to drive defence business initiatives.
Bharat Forge Limited (BFL) is the flagship company of the USD 3 billion Kalyani Group and a global provider of high-performance, innovative, safety & critical components and solutions to various sectors including automotive, railways, defence, construction & mining, aerospace, marine and oil & gas.
On Monday, shares of Bharat Forge Limited surged 1 per cent to Rs 979.15 per share with an intraday high of Rs 991.30 and an intraday low of Rs 967.80. The stock also made a new 52-week high of Rs 991.30 per share after receiving the export orders.
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According to the financials, BFL has a market cap of over Rs 45,000 crore. The net sales increased by 36 per cent to Rs 3,877 crore, the operating profit increased by 40 per cent to Rs 595 crore and the net profit increased by 34 per cent to Rs 214 crore in Q1FY24 compared to Q1FY23.
The stock is up by 35 per cent in 1 year and gave multibagger returns of 105 per cent over the span of 3 years. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.