Happy Forgings shares gain over 4% after bagging international auto components order

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Happy Forgings Ltd. shares gained in trade on Tuesday, April 16, after the company said it had bagged an order from a leading global tier 1 manufacturer of automobile driveline components and systems.

As part of the order, the company will supply brake flanges for passenger vehicles (utility vehicles/pickup trucks).

The company did not name the client but said it was an international one.

The order is to be executed from the fourth quarter of the 2025-26 fiscal or the first quarter of the 2026-27 financial year till December 2034.

The order is worth ₹69 crore to ₹70 crore per annum, which is around ₹500 crore for the entire period.

Happy Forgings shares were trading 4.15% higher at ₹942 apiece at 9.20 AM on Tuesday, April 16. The stock has gained 15.16% in the past month.

Ludhiana, Punjab-based Happy Forgings is involved in the manufacturing of auto components. The company produces and markets steering knuckles, front axle beams, bevel gears, counter shafts and transmission components to customers in India.

In February this year, the company had won a ₹400 crore order for supply of fully machined components for SUVs.

Happy Forgings was one of the final IPOs of 2023, and listed at an 18% premium to its issue price of ₹850 per share. The stock is trading 10% higher than its IPO price of ₹850.

Also Read: VST Industries shares rise after Radhakishan Damani increases stake in one of his major holdings

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow