The local companies will be at a disadvantage if they don't' get orders from the government
Stock down 5% on weak truck and oil and gas outlook
Bharat Forge slipped 12 per cent from its intra-day high of Rs 298 on the NSE
Falling crude oil prices and lower CV demand have dented company financials
Escorts has picked up momentum with a positive bullish candle pattern with decent improvement in the volume participation to show a positive bias and imply further strength in the coming days.
Weekly Technical Recommendations by Religare Broking Ltd.
The Navy will now take the case to the Defence Acquisition Council with the shortlisted names of both Indian and foreign manufacturers
Investors should avoid exposure with growth unlikely before FY21
Calling the quarter gone by as "the toughest in this decade", the management said weak end-demand across sectors due to the sluggish macroeconomic environment led to the continuous decline in demand
Near-term challenges on CVs, oil and gas will keep stock under pressure
Stock calls and Outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.
The supply of components to truck-makers accounts for nearly 41 per cent of its revenues. Of these, approximately 12 per cent revenue comes from North American truck sales.
Bharat Forge shares were trading up 3.42% at Rs 458.35 apiece on the BSE
Bharat Forge will hold 50 per cent stake in the JV by making an investment of 11.35 million euros
Despite the near-term weakness, the Street is expecting some revival in the segment on the back of a pick up in infrastructure activity
While truck sales in India and the US are trending down, industrial segment could see pressure
Fall in truck volumes and pressure on non-auto segments are the negatives
The stock was down 4% to Rs 470 on the BSE in early morning trade, its lowest level since February 1, 2017.
Sales of heavy trucks in US, India decline in November; commercial vehicles also register a fall locally
The stock slipped 9.5% to Rs 526, its lowest level since May 24, 2017.