Bharat Forge hits 8 year high on Goldman upgrade

Shares in Bharat Forge rose as much as 1.73 percent to their highest level since April 2006 after Goldman Sachs upgraded the auto components maker to "neutral" from "sell" as part of its preference for cyclical shares over defensive ones.

Goldman also upgraded truck maker Ashok Leyland Ltd to "neutral" from "sell," saying both stocks could be beneficiaries of any macro improvement at home and abroad.

The investment bank said Bharat Forge would benefit from improved truck demand from the European Union and the United States, as well as favourable raw material and currency exchange rates.

For Ashok Leyland, Goldman said the stock would benefit from improved domestic demand at home.

Bharat Forge was up 1.71 percent to 444.30 rupees, while Ashok Leyland was up 2.82 percent to 23.70 rupees at 11:29 a.m.


  • Monetary policy review needs to look beyond key policy rate

    After changes in the interest rate cycle direction, expectation of some action on rates is high before every monetary policy review of the Reserve Ban


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Arun Kumar Jain

India in a new age work order

There are three broad categories of people in the world ...

Rajgopal Nidamboor

The balancing act of nature

It’s a fact of modern life that you and I ...

Dharmendra Khandal

For a lark, let's do something serious finally

It’s a sight to behold. As you drive through a ...


William D. Green

Chairman & CEO, Accenture