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.

EDITORIAL OF THE DAY

  • Insurance regulator must ban differential pricing and exemptions on health covers

    To reduce their overall losses, non-life insurance companies have been increasing the health insurance premium they charge retail customers, both at t

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture