Happy Forgings rises on bagging order worth around Rs 400 crore
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Happy Forgings is currently trading at Rs. 973.25, up by 6.25 points or 0.65% from its previous closing of Rs. 967.00 on the BSE.
The scrip opened at Rs. 978.10 and has touched a high and low of Rs. 987.40 and Rs. 960.00 respectively. So far 14034 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. 917.10 on 24-Jan-2024.
Last one week high and low of the scrip stood at Rs. 1050.00 and Rs. 941.30 respectively. The current market cap of the company is Rs. 9195.81 crore.
The promoters holding in the company stood at 78.60%, while Institutions and Non-Institutions held 7.90% and 13.50% respectively.
Happy Forgings (HFL) has received a ‘Letter of Business Award’ from a leading Indian automobile manufacturer of passenger vehicles marking a significant milestone in its journey of expansion and growth. This order entails manufacturing and supply of fully machined components for the SUV segment. The total size of the order is worth around Rs 60-70 crore p.a. and around Rs 400 crore for a period of 6 years starting from April 01, 2024.
With this order, the company will establish its presence in the Passenger Vehicles segment as it aims to diversify the sectoral revenue mix further both in domestic as well as exports markets. The order further endorses HFL’s capabilities in providing quality and high-precision value added machined products for BS6 applications.
Happy Forgings is principally engaged in manufacturing of forgings and related components.
