Bharat Forge buzzes as North America Class 8 truck orders rise
DSIJ Intelligence / 05 Dec 2017
The company is a major component supplier for US-based North America Class 8 truck and earns a significant share of its revenues this segment.
The stock of Bharat Forge was buzzing on the bourses on Tuesday. The stock was up more than 3 per cent in during the morning hours of trade. The stock also saw volume rise by 659.08 per cent, compared to its 5 day moving average.
The company is a major component supplier for US-based North America Class 8 truck and earns a significant share of its revenues this segment. Orders for North American Class 8 trucks jumped 68 percent in November on the back of strong demand for freight truck and growth in the US economy.
Following this news, the stock of Bharat Forge was trading at Rs. 694.40 per share, up by 2.81 per cent at 10:57 hours in an otherwise lacklustre market on Tuesday. Meanwhile, BSE Sensex was at 32,781.59 points, down 88.13 points or 0.27 per cent and Nifty50 was at 10,099.20 points, down by 28.55 points or 0.28 per cent.
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