Bharat Forge Slumps on Brokerage Downgrade

Shares of Bharat Forge slumped nearly 6 per cent on Friday after foreign brokerage Bank of America-Merrill Lynch (BofAML) downgraded the stock to 'underperform' from 'buy'.

At 12:43 pm, Bharat Forge was trading 5.36 per cent down at Rs 1228.35 on the NSE, underperforming the broader Nifty which was 0.55 per cent down

Pune-based Bharat Forge is into metal forming, catering to several industries including automotive, power, oil and gas, construction, and mining.