The Happy Forgings jumped more than 7% to an intraday high of Rs 972.10 after it bagged a large order worth Rs 500 crore.
The company, on Monday, said in an exchange filing that it got the order to manufacture and supply brake flanges for passenger vehicles (utility vehicles/pickup trucks) from a leading global Tier 1 manufacturer of automobile driveline components and systems.
The order needs to be completed within a given time frame starting Q4 of FY2026 or Q1 of FY2027 up to December 2034.
The scrip of Happy Forgings has risen more than 4% in the past five days. However, it wiped out more than 8% of investors’ wealth in the last six months. The stock of the company has fallen more than 7.5% from year to date. The stock hit its 52-week high of Rs 1,087.40 on December 27, 2023. It touched its 52-week low of Rs 813.20 on March 18, 2024.
To give a comparison, the benchmark index Nifty 50 has given a return of negative return of 2.7% in the last five days. But, the index, consisting of 50 large stocks by market capitalisation, has risen 12% in the last six months and 1.6% since the start of 2024.