Bharat Forge hits record high on strong growth in North America truck orders
Bharat Forge shares hit a fresh record high of Rs 750, rising 3.5 percent intraday Friday after strong growth in North America Class 8 truck orders in December.
North America Class 8 truck orders increased sharply by 77 percent in December to 37,200 units, compared to 21,061 units reported in year-ago month.
Even on month-on-month basis, the truck orders jumped 15 percent compared to 32,387 units in November.
Bharat Forge earns 12 percent of revenues from Class 8 trucks.
Ramkrishna Forgings, which also supplies to North America class 8 trucks, gained 4.5 percent to hit fresh all-time high of Rs 891 on the BSE.
At 15:15 hours IST, the stock price of Bharat Forget was quoting at Rs 737.30, up Rs 12.55, or 1.73 percent on the BSE.