Happy Forgings shares jump 7% on securing Rs 500 crore order. More details awaited

Shares of Happy Forgings surged by over 7% to reach an intraday high of Rs 972.10 following the announcement of a significant order worth Rs 500 crore. The company disclosed in an exchange filing that it secured the contract to produce and deliver brake flanges for passenger vehicles from a renowned global Tier 1 manufacturer of automotive driveline components and systems.

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According to the filing, the order must be fulfilled within a specified timeframe, commencing from the fourth quarter of fiscal year 2026 or the first quarter of fiscal year 2027, extending up to December 2034.

Despite a recent uptick, Happy Forgings' stock experienced a decline of more than 8% over the past six months, leading to a reduction in investors' wealth. Year-to-date, the company's shares have fallen by more than 7.5%. Notably, the stock reached its 52-week high of Rs 1,087.40 on December 27, 2023, and its 52-week low of Rs 813.20 on March 18, 2024.

In comparison, the Nifty 50 index, comprising 50 large-cap stocks, registered a negative return of 2.7% over the past five days. However, it witnessed a notable increase of 12% in the last six months and a modest rise of 1.6% since the beginning of 2024.

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