Bharat Forge declines 2% on reports of lower class 8 orders

North American Class 8 orders have still totaled 429,000 units over the past 12 months.

Mar 06, 2019 05:03 IST India Infoline News Service

Bharat Forge
Shares of Bharat Forge declined 2% in Wednesday’s late morning trade after media reports suggested that North American Class 8 orders for February dropped for the second consecutive month in 2019 16,700 units.

As per media reports, FTR  data, showed North American Class 8 orders for February rose 5% on monthly basis, while declined 58% on yearly basis. January-February 2019 is the lowest two-month period since October-November 2016. Meanwhile, Class 8 orders have still totaled 429,000 units over the past 12 months.
Bharat Forge Ltd's share price is currently at Rs517.40, down by Rs8.3 or 1.58%, from its previous close of Rs525.70 on the BSE.
The scrip opened at Rs520 and has touched a high and low of Rs526 and Rs514, respectively. So far, 11,24,621 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs24,475.99cr.

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