Bharat Forge slips down
By Ruma Dubey
about 2 months ago
Bharat Forge is in the red presently; the stock fell 2.5% to hit an intraday low at Rs.752.30 and currently trades at Rs.758 levels. Its 52-week high and low stands at Rs.919.50 and Rs.597.50 respectively.
For this company, the receipt or non-receipt of Class-8 truck orders in North America decides its earnings and for the past few months, this order has seen a decline. Class-8 trucks is a leading contributor to company’s fortunes and the fall in order, directly impacts revenue.
For March, its orders for Class-8 trucks was at 19,000 units, down 10% (YoY) and down 17% (MoM).