Auto component maker Bharat Forge Ltd has announced the commissioning of its new facility, an open forging press, at Mundhwa in Pune. According to the company, the 4000T open die press will produce ingots ranging up to 70 tonnes and cater to sectors such as wind energy, oil and gas, steel, power, gear, cement ship building, pressure vessel, petrochemical and sugar industry. However, amongst the parts that will be manufactured here will be shafts for the wind energy and power generation sectors, well heads and x-mas tree parts for the O&G industry and pinion shafts, gear blanks etc. for the capital goods sector. Various stock analysts in their stock recommendations have suggested a 'Buy' call for Bharat Forge from a medium-term perspective. The company has strong growth strategy and technical analysts are bullish on the stock in the long term.

They expect that the stock's current up move to continue until it hits price target of Rs 290 if the market conditions are favorable. The stock is presently trading at Rs 267.

As per their view, traders with short-term perspective can buy the stock while maintaining stop-loss at Rs 250.