Bharat Forge slumps on export fall
By
Research Desk
about 9 years ago
Bharat Forge is currently the top loser on the BSE. The stock is down over 4.5% at Rs.790 levels from yesterday’s close of Rs.829.45. Its 52-week low stands at Rs.720.65.
The stock price has fallen after there came in news that its truck orders in North America have fallen to the lowest level since Feb 2011.
The company gets 20% of its topline from export of trucks to North America and this segment saw a whopping 37% (YoY) fall in Class * truck orders; it currently stands at 15,800 units.
This is expected to put the earnings of the company under a lot of pressure because the overall contribution of exports to the total revenue for FY15 stands at 60%.