Bharat Forge rises by 8% after robust orders in September

6 Oct 2022 , 11:37 AM

Heavy trading volumes helped Bharat Forge (BFL) shares rise 8% to Rs768 on the BSE on Thursday as news sources showed that US Class 8 truck orders were robust in September. The auto accessory company’s stock was trading at Rs765 at 09:41 AM, while the S&P BSE Sensex had increased by 0.61 %. With a combined 2.8 million equity shares changing hands on the NSE and BSE, trading volumes on the counter more than quadrupled.

Preliminary North American Class 8 net orders for September rose to 56,500 units, which is a record high for a single month. With total orders in the previous 12 months totaling 254,000 units, September order activity was up 169 % month over month and 102 percent year over year. BFL is a major force in the forging sector. The firm provides services to a variety of industries, such as the automotive, energy, oil and gas, rail and maritime, aerospace and defense, construction, and mining industries.

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