Happy Forgings jumps on obtaining order for supply of brake flanges for passenger vehicles
Happy Forgings is currently trading at Rs. 948.25, up by 43.65 points or 4.83% from its previous closing of Rs. 904.60 on the BSE.
The scrip opened at Rs. 939.05 and has touched a high and low of Rs. 950.00 and Rs. 934.00 respectively. So far 6660 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1087.85 on 27-Dec-2023 and a 52 week low of Rs. 813.55 on 18-Mar-2024.
Last one week high and low of the scrip stood at Rs. 956.00 and Rs. 840.05 respectively. The current market cap of the company is Rs. 8521.77 crore.
The promoters holding in the company stood at 78.60%, while Institutions and Non-Institutions held 18.04% and 3.35% respectively.
Happy Forgings has obtained an order from a leading global Tier 1 manufacturer of automobile driveline components and systems for supply of brake flanges for passenger vehicles (utility vehicles/ pickup trucks) subject to fulfillment of supply terms and conditions. Broad consideration or size of the order is Rs 60-70 crore p.a. (approximately Rs 500 crore for entire period).
Happy Forgings is principally engaged in manufacturing of forgings and related components.
