The reason for strong leap in truck and tractor sales was US economic growth that has been topping 3 percent for last two quarters.
Moneycontrol News
@moneycontrolcom
Bharat Forge shares gained more than 3 percent intraday Tuesday after strong trend continued in North America class 8 truck orders in November.
North America class 8 truck orders for the November month were at 32,387 units, a massive growth of 68 percent over 19,285 units in year-ago.
The reason for strong leap in truck and tractor sales was US economic growth that has been topping 3 percent for last two quarters.
However, month-on-month basis, class 8 truck orders declined 9 percent from 35,700 units in October.
North American business contributes 40 percent to company's total revenue.
At 09:55 hours IST, the stock price was quoting at Rs 696.30, up Rs 20.90, or 3.09 percent on the BSE.
