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This is also the second straight month that the class 8 truck orders remained below 20,000 units, after falling below it for the first time since August 2023 in March.
Bharat Forge: Motilal Oswal Securities said while Bharat Forge's core India business is on the growth path, the underlying macro environment in the US and EU is showing signs of weakening.
Bharat Forge share price: On the earnings front, the company posted a 29 per cent year-on-year (YoY) rise in its standalone net profit at Rs 345.9 crore for the second quarter of financial year 2023-24 (Q2 FY24). The company had recorded a net profit of Rs 268.1 crore in the corresponding quarter of last fiscal year.
Bharat Forge share price: Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities, told BT TV that Bharat Forge has sizeable defence and aerospace orders. "We are also expecting growth in private vehicle exports," Vakil said. The stock may deliver 10-15 per cent returns over the long-term, the market expert added.
Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Aptech, Samvardhana Motherson and Bharat Forge