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BOM:500493

5 stories mentioning BOM:500493

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Asia

Indian Equities End Lower on Tuesday as Global Uncertainty Weigh on Sentiment

Indian benchmark indices closed in the negative territory on Tuesday as investors stayed cautious amid mixed global cues and renewed uncertainty around geopolitical tensions in the Middle East.The BSE Sensex fell 114.19 points, or 0.2%, to close at 75,200.85, while the NSE Nifty 50 declined 31.95 points, or 0.1%, to settle at 23,618.00.Market sentiment remained subdued as concerns over the U.S.-Iran conflict, elevated crude oil prices, and persistent weakness in the Indian rupee continued to pressure risk appetite.In earnings news, RITES (NSE:RITES, BOM:541556) slipped over 1% after reporting a marginal decline in fiscal fourth-quarter consolidated profit to 1.30 billion rupees from 1.33 billion rupees a year earlier.Eureka Forbes (NSE:EUREKAFORB, BOM:543482) also declined over 1% despite posting a higher quarterly profit of 510.3 million rupees compared to 495 million rupees last year.In other corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) ended lower by around 2% after its aerospace division signed an MoU with the Andhra Pradesh government to establish a marine gas turbine repair, overhaul, and development facility in Visakhapatnam.

^BSENifty 50BOM:500493BOM:541556BOM:543482NSE:BHARATFORGNSE:EUREKAFORBNSE:RITES
Asia

Bharat Forge Signs MoU To Set Up Marine Gas Turbine Development Complex in Andhra Pradesh, India

Bharat Forge's (NSE:BHARATFORG, BOM:500493) aerospace business has signed a memorandum of understanding with the state government of Andhra Pradesh, India, to set up a marine gas turbine (MGT) repair, overhaul and indigenous development complex in Visakhapatnam, according to a filing to the Indian stock exchanges on Tuesday.The company plans to set up private-sector complex over 80 acres within the Andhra Pradesh Defence Manufacturing Corridor, and will be co-located with the Naval Dockyard, INS Eksila, and Eastern Naval Command HeadquartersThe first phase will cover a full MGT repair and overhaul complex. It includes a hot section restoration of blades, vanes and combustion liners, component manufacturing, NDE laboratory, and a 72-hour turnaround capability for the Naval Dockyard, Visakhapatnam.Subsequently, in the second phase, the company will establish an MGT development and assembly hall, a full-spectrum hot test cell scalable across all propulsion ratings, the filing said.The company's shares were down nearly 1% in recent trade.

BOM:500493NSE:BHARATFORG
Asia

Jefferies Adjusts Bharat Forge's Price Target to INR2,500 From INR2,150, Keeps at Buy

Bharat Forge (NSE:BHARATFORG, BOM:500493) has an average rating of hold and mean price target of 1,768.32 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

BOM:500493NSE:BHARATFORG
Asia

Indian Equities End Flat on Thursday as Earnings Support Offsets Weakness

Indian benchmark indices ended largely unchanged on Thursday as gains driven by earnings-related buying offset broader market weakness.The BSE Sensex fell 114.00 points, or 0.2%, to close at 77,844.52, while the NSE Nifty 50 slipped 4.30 points, or 0.02%, to settle at 24,326.65.Expectations of easing tensions between the US and Iran further supported investor sentiment. Tehran is reportedly reviewing the latest U.S. proposals aimed at ending the conflict.In corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) reported a decline in consolidated profit in fiscal Q4 to 2.33 billion rupees from 2.83 billion rupees a year earlier. Revenue from operations, however, rose to 20.3 billion rupees from 17.0 billion rupees.Larsen & Toubro (NSE:LT, BOM:500510) gained after its buildings and factories business secured three large orders from a real estate client for projects across three states, according to a filing. The company classifies large orders in the range of 25 billion rupees to 50 billion rupees.

^BSENifty 50BOM:500493BOM:500510NSE:BHARATFORGNSE:LT
Asia

Bharat Forge's Consolidated Net Profit Declines in Fiscal Q4; Shares Up 5%

Bharat Forge's (NSE:BHARATFORG, BOM:500493) consolidated net profit declined to 2.33 billion Indian rupees in the fiscal fourth quarter ended March 31, from 2.83 billion rupees a year ago.Earnings per share contracted to 4.86 rupees from 5.92 rupees a year earlier, according to a Thursday filing to the Indian stock exchanges.Revenue from operations, however, increased to 20.3 billion rupees from 17.0 billion rupees a year ago.The company's board recommended a final dividend of 6.50 rupees per equity share of the face value of 2 rupees each for the financial year ended March 31.Bharat Forge's shares were up nearly 5% in recent trade.

BOM:500493NSE:BHARATFORG