North America Class 8 truck part suppliers dip on weak April sales
Indian auto component suppliers for North America Class 8 truck faced downward pressure during the early morning trading session on Friday.
Bharat Forge a major supplier of auto component for North America Class 8 truck reported increase in sales of 48 per cent at 34,800 units as compared to 23,538 units YoY, but posted 34,700 units as compared to 46,300 units MoM. The dip in April sales figure of 25 per cent MoM has brought the stock to trade in negative territory.
According to US truck sales data, full-year 2017 orders for Class 8 trucks was 2,90,000 units compared to 1,64,000 units in 2016.
Similarly, auto components companies, Ramkrishna Forgings, GNA Axels, Automotive Axles were buzzing on Friday. The stock of Bharat Forge was trading at Rs. 733.50 per share, down 2.53 per cent, Ramkrishna Forgings was at Rs. 818.20, down 0.09 per cent, GNA Axles was at Rs. 540.60, up by 0.22 per cent and Automotive Axles was at Rs. 1,518.80, down by 0.59 per cent at 10:40 hours on BSE.