Happy Forgings Shares Jump On Order For Supply Of Automobile Components
The stock rose 7.09% intraday on the NSE to the highest level since March 4.
Shares of Happy Forgings Ltd. jumped over 7% to the highest level since March 4, as the company secured an order to supply automobile driveline components to a global tier-1 manufacturer.
The company will manufacture and supply components like brake flanges for passenger vehicles, an exchange filing said on Monday. The execution of the order will start from either Q4 of FY26 or Q1 FY27 and will continue up to December 2034.
Broad consideration of revenue from the order is Rs 60-70 crore per annum and approximately Rs 500 crore in total, the filing said.
The company did not mention the name of the manufacturer that gave the order.
Happy Forgings' stock rose 7.09% intraday on the NSE to the highest level since March 4. It was trading 5.88% higher at 11:36 a.m., compared to 0.34% decline in the NSE Nifty 50.
The stock has declined 7.01% since its listing on Dec. 27, 2023. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 60.74.
Three analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average 12-month analysts' price target implies an upside of 15.2%.
