Monday 23 Dec, 2024 06:16 PM
Site map | Locate Us | Login
   Adani Enterprises to acquire 85.8% stake in Air Works India for Rs 400 cr    UltraTech Cement gets CCI nod to acquire India Cements    Eco Recycling hits the roof as board OKs raising Rs 500 cr via QIP    Bharat Electronics gains after bagging orders worth Rs 973 cr    General Insurance Corporation of India leads losers in 'A' group    Mishtann Foods Ltd leads losers in 'B' group    Volumes soar at Intellect Design Arena Ltd counter    Sealmatic India rises after JV incorporates SealTech in Abu Dhabi    Utilties stocks edge lower    Information Technology shares slide    Telecom stocks slide    UCO Bank eases for fifth straight session    Indian Overseas Bank slips for fifth straight session    Punjab & Sind Bank eases for fifth straight session    Bank of India down for fifth straight session 
Saravan Stocks
       
Hot Pursuit
Scrips, which has significant changes during the market hours.
CARE Rating affirms Bharat Forge's 'AA+' rating 'stable' outlook
23-Dec-24   13:02 Hrs IST

The agency has affirmed the company's short-term rating at 'CARE A1+'.

CARE Rating stated that the reaffirmation of the ratings assigned to the bank facilities and instruments of Bharat Forge (BFL) continue to factor its established market position as India's largest manufacturer and exporter of auto components, consistently healthy profitability in the Indian manufacturing operations and long-standing relationship with global automotive original equipment manufacturers (OEMs) and Tier-I suppliers, particularly in the commercial vehicle (CV) segment.

The rating has positively factored the robust order book position in the defence segment, ramp-up of the greenfield aluminium forging capacity in North America and the funds raised through qualified institutional placement (QIP), which will be largely utilized towards debt repayment/pre-payment.

The rating strengths are constrained due to working capital intensive operations and volatility in end-user sectors.

Despite diversification, even today, a large proportion of its revenue is derived from the automotive segment, thereby exposing the company to inherent cyclicality of the automobiles industry.

The ratings are further constrained on account of the susceptibility of the operating margins to commodity price risk and forex risk.

Turnaround in the performance of overseas operations and any large-sized unanticipated debt-funded capex or acquisitions leading to deterioration in the capital structure and debt coverage metrics from the existing levels would continue to remain the key rating monitorable.

Bharat Forge (BFL) is the flagship company of the Kalyani Group providing engineering solutions for diverse automotive and industrial applications. It is India's one of the largest forging company with forging-based engine and chassis components with focus on crankshafts and front-axle beams, largest exporter of auto components and amongst the leading manufacturers of industrial components. It has a diversified global customer base including the top five CV and PV manufacturers in the world.

The scrip rose 0.88% to currently trade at Rs 1,291.05 on the BSE.

Powered by Capital Market - Live News

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID: info@ssplwealth.com       Customers grievances : grievances@ssplwealth.com     Compliance officer : Mr.R Udayakumar , compliance@ssplwealth.com,  Mobile No: 7305522205
Hit Count : 37709495
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 56990 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. SSPL WEALTH Pvt. Ltd