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Nomura maintains reduce on Bharat Forge
Order inflows for class 8 trucks in North America declined 25 per cent year-on-year to 19,625 units in June 2015, marking its fourth consecutive month of decline. Bharat Forge derives around 15 per cent of its revenue from the North American heavy trucks. If the current trend continues, there could be downside risks to our FY17 estimates, said Nomura.