Bharat Forge gains after rise in North America Class 8 truck orders

Bharat Forge rose 1% to Rs 1,122 at 12:22 IST on BSE after increase in June 2017 orders for North America Class 8 trucks on month-on-month basis.

Meanwhile, the S&P BSE Sensex was up 153.81 points, or 0.49% to 31,399.37.

On the BSE, 45,000 shares were traded in the counter so far, compared with average daily volumes of 67,852 shares in the past one quarter. The stock had hit a high of Rs 1,139.20 and a low of Rs 1,120 so far during the day. The stock hit a 52-week high of Rs 1,220.45 on 8 June 2017. The stock hit a 52-week low of Rs 716.70 on 4 August 2016.

The stock had underperformed the market over the past one month till 5 July 2017, falling 4.72% compared with 0.18% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 2.05% as against Sensex's 4.40% rise. The scrip, however, outperformed the market in past one year, surging 44.65% as against Sensex's 15.01% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

As per FTR release, preliminary North America Class 8 truck orders surged 38% to 17,764 units in June 2017 over May 2017. About 20% of Bharat Forge's revenue on standalone basis reportedly comes from North America truck market.

Net profit of Bharat Forge rose 25.32% to Rs 207.50 crore on 11.31% rise in net sales to Rs 1125.66 crore in Q4 March 2017 over Q4 March 2016.

Bharat Forge is a technology driven global leader in metal forming having transcontinental presence across ten manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining , rail, marine and aerospace.

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