BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
We are admirers of Bharat Forge Ltd. for its focus on quality and innovation, yet the truth is its key business segments (commercial vehicle, passenger vehicle, Oil and Gas) are cyclical, which are currently in differing demand rebound cycles.
Management is trying to pivot and create a larger pie of revenues from stable segments like defence, aerospace etc.
Aerospace segment outlook remains uncertain due to Covid-19 pandemic; however, recent defence procurement policy shift has raised investor confidence in Company’s potential to win artillery guns’ orders.
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