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

Bharat Forge rose 2.40% to Rs 712.55 at 10:58 IST on BSE after North America Class 8 truck sales jumped 161% to 35,700 units in October 2017 over October 2016.

Meanwhile, the S&P BSE Sensex was up 70.46 points, or 0.21% to 33,643.68.

On the BSE, 2.27 lakh shares were traded in the counter so far, compared with average daily volumes of 91,802 shares in the past one quarter. The stock had hit a high of Rs 722 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 707.65 so far during the day. The stock hit a 52-week low of Rs 382.98 on 9 November 2016.

The stock had outperformed the market over the past one month till 2 November 2017, rising 10.71% compared with 6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.46% as against Sensex's 3.86% rise. The scrip had also outperformed the market in past one year, rising 63.49% as against Sensex's 22.39% rise.

The large-cap company has equity capital of Rs 93.12 crore. Face value per share is Rs 2.

Bharat Forge earns significant amount of revenues from Class 8 trucks in the US.

Net profit of Bharat Forge rose 43.4% to Rs 175.08 crore on 32.8% rise in net sales to Rs 1200.79 crore in Q1 June 2017 over Q1 June 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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