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

Bharat Forge rose 1.61% to Rs 510.60 after Preliminary North American Class 8 orders for January hit 17,700, a 10% increase from a year earlier when they were 16,105.

It was the first year-over-year gain since October 2018. Bharat Forge earns significant revenues from Class 8 trucks in the US.

Shares of Bharat Forge have risen 7.91% in three sessions from a recent closing low of Rs 473.15 recorded on 1 February 2020.

Bharat Forge will declare its third quarter earnings on 10 February 2020.

On a consolidated basis, the truck maker's net profit fell 18.5% to Rs 207.08 crore on a 17% decline in net sales to Rs 2155.21 crore in Q2 September 2019 over Q2 September 2018.

Bharat Forge is a multinational company involved in automotives, power, oil & gas, construction and mining, locomotive, marine and aerospace industries. The company has now entered into the defense sector and is moving from being a components manufacturer to a complete product maker.

Powered by Capital Market - Live News