Shares of Bharat Forge
slipped 1% after orders for Class 8 trucks in North America in May were worst since July 2016.
Preliminary North America Class 8 net order data show the industry booked 10,800 units in May, dropping 27% from April, but down a more significant 70% from year-ago May, as per ACT Research.
May saw NA Class 8 orders fall below the 15,900 units averaged through the year’s first trimester, and year-to-date Class 8 net orders have contracted 64% compared to the first five months of 2018, the report added.
Bharat Forge Ltd is currently trading at Rs458.45, down by Rs4.7 or 1.01% from its previous closing of Rs463.15 on the BSE. The scrip opened at Rs457.70 and has touched a high and low of Rs462.70 and Rs455.05 respectively.