Bharat Forge declined 1.14% to Rs 838 after Class 8 truck orders reportedly amounted to 33,000 units in November, falling for a second consecutive month after record bookings in September.
As per reports, Class 8 truck orders amounted to 42,500 units in October and 53,700 units in September.
Supply chain issues, growing backlogs and a slowing economy are likely to prevent big monthly orders in the near term, media reports stated.
Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.
The company's standalone net profit declined 14% to Rs 268.12 crore despite of 16.02% to Rs 1,863.94 crore in Q2 FY23 over Q2 FY22.
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