Bharat Forge Stock Rise despite Weak Class-8 Truck Orders

Bharat Forge Limited, the Pune-based Indian multi-national conglomerate, whose stock was volatile on Wednesday morning hours as the company reported a sharp decline in Class-8 truck orders in NorthAmerica. The stock was down in the morning session by 0.4percent. 

As per company, Class-8 truck orders from North America remained weak for the third consecutive month. The orders stood at 15,700 units, down by 66% as against the corresponding month last year. North American orders constitute 15% of Bharat Forge’s turnover. In March 2018, class-8 truck orders registered at 46,248 units. The orders recorded a 7percenet decline on a month on month basis.

However, shares of the company surged 0.27% to Rs515.60 on NSE as trade progressed, at around 1.20pm, in comparison, the benchmark Nifty recorded at 11750.75 up 37pooints and the Sensex crossed at 39271-level up 160 points.