Bharat Forge rises over 4%

Bharat Forge, rose over 4% intra day to Rs.907 and it is now at Rs.896 levels, up 3%. Its 52-week high is at Rs.1075.

The stock is up in the green today after Freight Transportation Research (FTR) issued a statement saying that there has been a MoM improvement in August orders for North America Class 8 trucks.

FTR, in its release stated that orders for these trucks rose 35% to 14,000 units v/s 10,400 units in July. This order rise has been much higher than expectations.

Though, YoY, the orders remain weak as it fell 35%. The total orders for 12 months is now at 2,06,000 units.

Falling orders for Class 8 trucks to North America has been a concern for quite a few months now and this MoM improvement thus comes as a pleasant surprise.