Bharat Forge Ltd. Stock Sees -3.22% Decline, Still Outperforms Sector and Market in Long Term

Bharat Forge Ltd., a leading player in the castings and forgings industry, saw a decline of -3.22% in its stock price on August 12, 2024. The stock, which is categorized as a largecap company, has been given a 'Hold' call by MarketsMOJO, a leading financial analysis platform.

According to MarketsMOJO, Bharat Forge Ltd. has been a part of their Hidden Turnaround list since August 9, 2023. This list includes companies that have shown potential for a turnaround in their performance.

On August 12, the stock underperformed the sector by -1.01% and touched an intraday low of Rs 1585.6, a decrease of -3.2%. However, the stock is currently trading higher than its 5 day, 100 day, and 200 day moving averages, but lower than its 20 day and 50 day moving averages.

The castings/forgings sector, to which Bharat Forge Ltd. belongs, has seen a decline of -2.02%. In comparison, the Sensex, India's benchmark index, has seen a decline of only -0.22%.

In the past month, Bharat Forge Ltd. has seen a decline of -2.31%, while the Sensex has seen a decline of -1.23%. This shows that the stock has underperformed the market in the short term.

Overall, Bharat Forge Ltd. has shown a decline in its stock price, but it is still performing better than the sector and the market in the long term. Investors are advised to hold their positions in the stock and keep an eye on its performance in the coming days.