On April 5, Bharat Forge shares tumbled in early trade amid the decline in Class-8 truck orders in North America for March.

In recent months, Orders for Class-8 trucks witnessed a consistent decline except in February, which resulted in a year-on-year and the sequential fall in March.

For the month, orders for Class-8 trucks were 19,000 units, down 10% from the constant quarter in the year-ago period. The orders were also 17% lower than the 21,251 units commanded in the earlier month.

Since Bharat Forge is a foremost forging player in the Class-8 truck segment, the sales decline of the latter unfavourably impacts the company’s financials.

At 9:57 am, Bharat Forge shares traded at a cut of 1.64% at Rs 758.55 on the National Stock Exchange. The stock also fell to an intraday low of Rs 751.55.

Company’s shares have shed around 14% amid concerns about its rising debt and worsening losses at its overseas subsidiaries.

The forging company reported a 14.29% YoY fall in its net profit to Rs 289.18 crore for the December quarter, besides clocking in record revenues of Rs 1,952 crore and the highest-ever growth of 9.4% in export revenues.