RK Forgings, Bharat Forge gain as North America Class 8 truck orders rise

Class 8, or so-called severe duty, trucks have gross vehicle weight rating (GVWR) of more than 33,000 pounds.

June 05, 2023 / 12:03 IST

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The share prices of Bharat Forge and Ramkrishna Forgings gained in early trade on June 5 as Class 8 truck orders in North America saw an uptick in May compared to the decline in earlier months. ACT pegged preliminary Class 8 orders in May at 15,500. That is up 29 percent over April and 10 percent compared to May 2022. In April, Class 8 truck orders had skid for the sixth time in prior seven months.

At 9:45 am, the RK Forgings was quoting at Rs 384 on the NSE, higher by 1.8 percent from previous close. At the same time, Bharat Forge was quoting at Rs 799 on the NSE, higher by 1.3 percent from previous close. By 11 am, the stocks had erased early gains and were trading flat.

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Since Bharat Forge and RK Forgings are leading forging players in the North America Class-8 truck segment, any uptick in sales of the latter is good news for the company's financials. Both companies derive almost 40 percent of topline from North America.

Class 8, or so-called severe duty, trucks have gross vehicle weight rating (GVWR) of more than 33,000 pounds. They are used as trailer tractors, single-unit dump trucks as well as fire trucks.