Shares of Bharat Forge have returned more than 50% since the beginning of 2017 so far. The research and brokerage firm HDFC Securities rated the stock as 'Neutral'. The Pune-based auto component manufacturer\u00a0Bharat Forge\u00a0yesterday reported a 60.54%\u00a0jump in its standalone net profit at Rs 203.72 crore for the July-September quarter on account of higher income. The company had posted a net profit at Rs 126.89 crore in the corresponding period a year ago. The total income for the quarter ended 30 September grew 33.9% to Rs 1,294.63 crore versus Rs 966.82 crore in the July-September\u00a0quarter of 2016-17. The company said revenue from operations for the period\u00a0is not comparable due to the implementation of GST from 1 July. The company's board has declared an interim\u00a0dividend of Rs 2 per equity share which would be paid to the shareholders before 30 November. The shares of Bharat Forge ended\u00a0down\u00a01.96% at Rs\u00a0716.4 on NSE and have returned 57% to Rs 716.4 since January this year. "Bharat Forge\u2019s Q2 FY18 topline performance was in-line with expectations, while margins came in higher, owing to operating efficiencies," HDFC Securities said in a report. While the North American and European truck demand may be on an upswing, management has guided for a stable, if not higher, industrial segment performance, HDFC Securities added. Going forward HDFC Securities said that Bharat Forge strategies for business areas such as Aerospace, Defense and new components for electric vehicles and Hybrid Cars provide a\u00a0reason for optimism. However, profit growth is expected to be visible only from FY 2020, HDFC Securities added. "Thus, we believe, may be on the back of losing market share of some OEMs to peers. We have revised our FY18\/19\/20E estimates given strong Q2 results. Maintain NEUTRAL with a TP of Rs 673, based on 25x Jun-19E EPS," according to HDFC Securities. Meanwhile,\u00a0Indian stock markets closed on a lighter note on Thursday after a choppy trade through the day ahead of the GST Council meeting outcome.\u00a0BSE Sensex\u00a0ended up 32.12 points or 0.1% at 33,250.93 points whereas NSE Nifty settled 5.8 points or 0.06% higher at 10,308.95 points. The shares of heavyweight companies such as ITC and HDFC emerged as the major draggers while a surge in Reliance Industries and ICICI Bank contributed the most in the Sensex gains. During the day, the benchmark Sensex lost as much as\u00a0107.27 points to hit the day\u2019s low of 33,111.54 points while the broader Nifty washed off 36.2 points to mark the day\u2019s low at\u00a010,266.95 points.