Calling the quarter gone by as "the toughest in this decade", the management said weak end-demand across sectors due to the sluggish macroeconomic environment led to the continuous decline in demand
Near-term challenges on CVs, oil and gas will keep stock under pressure
Stock calls and Outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.
The supply of components to truck-makers accounts for nearly 41 per cent of its revenues. Of these, approximately 12 per cent revenue comes from North American truck sales.
Bharat Forge shares were trading up 3.42% at Rs 458.35 apiece on the BSE
Bharat Forge will hold 50 per cent stake in the JV by making an investment of 11.35 million euros
Despite the near-term weakness, the Street is expecting some revival in the segment on the back of a pick up in infrastructure activity
While truck sales in India and the US are trending down, industrial segment could see pressure
Fall in truck volumes and pressure on non-auto segments are the negatives
The stock was down 4% to Rs 470 on the BSE in early morning trade, its lowest level since February 1, 2017.
Sales of heavy trucks in US, India decline in November; commercial vehicles also register a fall locally
The stock slipped 9.5% to Rs 526, its lowest level since May 24, 2017.
Revenue growth was driven by doubling of passenger vehicle (PV) export revenues, accompanied with healthy double-digit growth in other key verticals
On the international front, the company is targeting growth both in the auto and non-auto space
Market share gains in passenger vehicles should aid incremental revenue gains
TORK is an electric drivetrain company focused on electric two-wheelers and premium electric motorcycles
Market share gains, new products helped to outperform in Q3
The stock hit an all-time high of Rs 764, up 8% on BSE after the company reported a strong 77% growth in its standalone net profit at Rs 2.3 billion for the quarter ended December 2017
Growth recovery in key businesses will boost revenues and margins
Among the key triggers are strong sales in the US commercial vehicles market and rebound in oil and gas orders