BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Nomura maintains reduce on Bharat Forge
Nomura has maintained reduce on Bharat Forge for target price of Rs 854. It says order inflows for class 8 trucks in North America (NA), according to news reports stood at 18,600 units in May 2017, up 18 per cent y-o-y, on a low base. However, orders were down 30 per cent m-o-m and much lower than the past three months' run-rate of 23,000 - indicating slowdown in momentum.