Bharat Forge stock price down by 1.88% today

3 May 2024 , 01:43 PM

Bharat Forge Limited witnessed a marginal decline of over 2% in its stock price during the afternoon trading session on May 3. This fall has been attributed to a significant drop in its orders in the North American region.

At the time of writing, shares of Bharat Forge were trading at ₹1252.30, reflecting a 1.72% decrease compared to the previous closing price. Despite this recent dip, the stock has exhibited a remarkable gain of 59.56% over the past year, with a marginal increase of 0.38% since the beginning of the current year.

Data indicates that North America Class 8 truck orders plummeted by 18% month-on-month in April, marking the lowest level recorded since July 2023. This downturn signifies the fifth consecutive month of decline in truck orders across North America.

Total class 8 truck orders in North America saw a notable decline to 14,400 units in April, down from the 18,200 units recorded in March. This marks the second consecutive month where class 8 truck orders remained below the 20,000 units threshold, following a similar trend observed since March 2023.

Class 8 trucks typically find application in local or regional deliveries, as well as in vocational roles such as cement or refuse trucks.

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