Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
Thus far in the month of November, the Nifty Auto index has outperformed the market by gaining 3.3 per cent, as against 1.5 per cent rise in the Nifty 50.
Despite demand challenges and export headwinds, analysts say Bharat Forge's diversified revenue base, strong defence order pipeline
Chandan Taparia, head of derivatives and technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying shares of Bharat Forge, Hudco and Bharti Airtel
While brokerages said the CV cycle appears to be nearing its bottom, they expect growth momentum to pick up from Q4FY26), driven by defence and aerospace segments.
Bharat Forge Q2 profit rises 23% to ₹299 crore; defence, industrial growth offset North America slowdown. Shares jump 5.6% after results