Bharat Forge flat after Class 8 trucks sales fall 39% yoy in Nov'19

Bharat Forge is trading flat with a positive bias.

Media reports stated that preliminary orders for new Class 8 trucks fell again in November 2019 after a month of improved bookings in October 2019.

FTR Transportation Intelligence said that orders by the six major brands totaled 17,300 units, the slowest in four years and 39% yoy.

The slowdown in orders has led to layoffs of hundreds of production workers by Daimler Trucks North America, Volvo Trucks North America, Paccar Inc., and Navistar International Corp.

Bharat Forge Ltd is currently trading at Rs447.55 down by Rs0.45 or 0.1% from its previous closing of Rs448 on the BSE.

The scrip opened at Rs445 and has touched a high and low of Rs451.40 and Rs431.25 respectively. So far 12,49,747 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs20,858.37cr.

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