Bharat Forge hits 52-week low

The auto ancillary company's stock hit a new low ahead of the Q3 results season on Friday. The stock came down on the back of lower Class 8 trucks sales in the US, which is a   major business segment of Bharat Forge.

According to preliminary order data for Class 8 trucks in North America, there was a 15 per cent drop in November sales at 27,900 units of multi-axle 15-tonne rigs, reported ACT Research. The lower sales can be attributed to negative macroeconomic environment in the US.

On Friday, the stock of Bharat Forge dropped to a new 52-week low of Rs. 483.05 per share, while its 52-week high was hit on 28 February 2018. At 15:15 hours, the stock of Bharat Forge was trading at Rs. 486.70 per share, down by 0.35 per cent on Friday, but managed to close positive at Rs. 488.55 per share, up by 0.03 per cent. 

Meanwhile the company's peers, Ramkrishna Forging closed negative at Rs. 520.00 per share, down by 1.70 per cent and Motherson Sumi closed at Rs. 159.00 per share, down by 1.43 per cent on BSE. The Nifty Auto index closed positive up by 0.48 per cent, with Tata Motors, Apollo Tyres and M&M up by 3.07, 2.41 and 1.17 per cent, respectively on Friday. Nifty50 closed at 10,727.35, up by 55.10 points or 0.52 per cent.