Happy Forgings bags Rs 500 crore order from leading global automobile manufacturer; stock up over 5%

As of 10:02 a.m., shares of Happy Forgings traded over 4.73 per cent or Rs 42.85, higher at Rs 948.2 apiece on NSE. The market capitalisation of the company at around the same time stood at Rs 8,932.51 crore.

Representative image. Source: Reuters

Shares of Happy Forgings gained over 5 per cent in Tuesday's morning deals and touched the intra-day high of Rs 958.2 apiece on NSE. The uptrend in the stock can be attributed to the company bagging a Rs 500 crore order from a large leading global Tier 1 manufacturer of automobile driveline components and systems.

As of 10:02 a.m., shares of Happy Forgings traded over 4.73 per cent or Rs 42.85, higher at Rs 948.2 apiece on NSE. The market capitalisation of the company at around the same time stood at Rs 8,932.51 crore.

On Monday, after market hours, Ludhiana, Punjab-based Happy Forgings informed that it has received a Rs 500 crore order to supply brake flanges for passenger vehicles (utility vehicles/pickup trucks).

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

"The company has obtained an order from a leading global Tier 1 manufacturer of automobile driveline components and systems," the filing read.

The period of the deal is set to start from Q4 of FY 2026 or Q1 of FY 2027 up to December 2034.

Before this, Happy Forgings had received an order in February worth around Rs 400 crore from a leading Indian automobile manufacturer of passenger vehicles.

The company was listed on the bourses on December 27, 2023, and its Anchor lock-in period end date for 50 per cent shares (30 Days) ended on January 21, 2024, and its anchor lock-in period end date for remaining shares (90 Days) ended on March 21, 2024.

Since listing at Rs 1001.25 apiece, Happy Forgings shares have lost over 9 per cent.

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Happy Forgings bags Rs 500 crore order from leading global automobile manufacturer; stock up over 5%

As of 10:02 a.m., shares of Happy Forgings traded over 4.73 per cent or Rs 42.85, higher at Rs 948.2 apiece on NSE. The market capitalisation of the company at around the same time stood at Rs 8,932.51 crore.

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