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Bharat Forge stock down 9% on muted Q2, poor commercial vehicle sales

Muted performance in the September quarter (Q2), coupled with a weak outlook, led to a 9 per cent fall in the Bharat Forge stock. While the Street did not expect much from the Q2 results, the weak guidance led to a correction in the stock.

The company expects the H2FY20 to be weaker than the first half, with an improvement expected only in FY21. In addition to the situation in India, the company pointed to the slowdown in North America and Europe as reasons for its lacklustre guidance. Within the segments it operates in, commercial vehicles (CV) have been the biggest drag on its …

Source: Business Standard