Bharat Forge rises 2%; Nomura neutral on stock with target Rs 741

The research house Nomura has kept neutral rating on Bharat Forge with a target of Rs 741 per share.

According to Nomura, the company derived 20 percent of its standalone revenue from NA heavy trucks in FY18.

The company continues to benefit from strong growth in the domestic MHCV Segment and can see upside to our estimates of growth in US truck revenue for company, it added.

At 14:38 hrs Bharat Forge was quoting at Rs 724.50, up Rs 8.20, or 1.14 percent on the BSE.