Shares of Bharat Forge Ltd. will be in focus after the latest round of data from the Class 8 Truck orders in North America.   Class 8 truck orders in North America fell to a 14-month low in June to 13,100 units. When compared to May, these orders were down 33%, while on a year-on-year basis, that number was down 6%.

"June’s month-on-month decline in orders was in line with seasonal expectations. The year-on-year decrease is the first this year, but it is relatively insignificant because it is modest and because of the strong order performance over the previous five months. While all OEMs experienced order declines, preliminary data indicates that vocational market demand dropped more significantly," according to a statement from FTR Transport Intelligence.  

This comes as an inversion to the month of May, when Class 8 truck orders had increased by 39% year-on-year and 35% when compared to the month of April.   The defence-to-auto component-supplier Bharat Forge has presence in the class 8 trucks market in North America.   Bharat Forge late last month had announced an additional investment of $40 million in Bharat Forge America.

With shares of Bharat Forge hitting a record high then, the overall market capitalisation of the Kalyani Group also crossed the mark of Rs 1 trillion. This is the first time in 2024 that Class 8 truck orders in North America declined on a year-on-year basis. This is also the fourth straight month when Class 8 truck orders in North America have remained below 20,000 units.

(Source: CNBC TV18)