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Bharat Forge rises over 2% on solid increase in North America class 8 trucks

North America truck orders contributed nearly 20 percent of revenue on standalone basis in FY17.
Bharat Forge shares gained as much as 2.5 percent in morning trade Thursday after solid growth in orders for North America class 8 trucks.

Orders for class 8 trucks increased 38 percent in June to 17,764 units, reports CNBC-TV18 quoting FTR.

Orders for the June month were also far better than 16,300 units in May.

North America truck orders contributed nearly 20 percent of revenue on standalone basis in FY17.

"Looking ahead into financial year 2017-18, we expect performance to be better than the underlying market demand, driven by improvement in North American market across sectors, ramp of passenger vehicle business and increasing share of business from new sectors," Baba Kalyani, Chairman & Managing Director, had said on May 24.

At 10:27 hours IST, the stock price was quoting at Rs 1,122.00, up Rs 10.75, or 0.97 percent on the BSE.
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