Bharat Forge shares close higher amid market crash, here's why

Shares of Bharat Forge Ltd closed higher amid a market crash today after the Defence Research and Development Organisation (DRDO) said that the 5.56x45 mm CQB carbine, designed by DRDO's Armament Research and Development Establishment (ARDE) and produced by Bharat Forge, has been selected as the L1 bidder in response to the Indian Army's request for proposal.

Bharat Forge stock ended 1.5% higher at Rs 1296.60 on BSE. Market cap of the firm stood at Rs 61,988 crore. 

Total 0.32 lakh shares of the firm changed hands amounting to a turnover of Rs 4.14 crore. The stock fell to a 52-week low of Rs 919.10 on February 28, 2025 and rose to a 52 week high of Rs 1826.20 on June 21, 2024.

Bharat Forge stock is trading neither in the overbought nor in the oversold zone, signals its relative strength index (RSI), which stands at 53.4. Bharat Forge shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages. 

Bharat Forge shares have fallen 26% in a year but risen 10% three months. 

Defence stocks are racing ahead in an otherwise weak market. The rally comes on the back of rising geopolitical tensions in the Middle East, leading to an increased investor interest in the defence sector.

Bharat Forge is a global provider of safety and critical components and solutions to various sectors including automotive, railways, defence, construction and mining, aerospace, marine, and oil and gas. Its segments include Forgings, Defense, and Other.