Bharat Forge fell 2.22% to Rs 1,159.30 at 14:37 IST on BSE after decline in May 2017 orders for North America Class 8 trucks on month-on-month basis.
Meanwhile, the S&P BSE Sensex was down 116.91 points, or 0.37% to 31,192.58.On the BSE, 30,000 shares were traded in the counter so far, compared with average daily volumes of 98,466 shares in the past one quarter. The stock had hit a high of Rs 1,181.70 and a low of Rs 1,156.50 so far during the day. The stock hit a 52-week high of Rs 1,215 on 2 June 2017. The stock hit a 52-week low of Rs 686.80 on 24 June 2016.
The stock had outperformed the market over the past one month till 5 June 2017, rising 7.97% compared with 4.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.15% as against Sensex's 7.97% rise. The scrip had also outperformed the market in past one year, rising 60.11% as against Sensex's 16.92% rise.
The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.
As per FTR release, preliminary North America Class 8 truck orders plunged 31% to 16,300 units in May 2017 over April 2017. May orders, however, were still higher by 29% compared with May 2016.
About 30% of Bharat Forge's revenue reportedly comes from North America truck market.
Net profit of Bharat Forge rose 25.32% to Rs 207.50 crore on 11.31% rise in net sales to Rs 1125.66 crore in Q4 March 2017 over Q4 March 2016.
Pune based Bharat Forge is a technology driven global leader in metal forming having transcontinental presence across ten manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining , rail, marine and aerospace.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
