Bharat Forge shares nosedived 8% in early Monday trade, dropping ₹82.05 to ₹944 on the NSE, amid intensified pressure on Indian auto and auto ancillary stocks. The steep fall comes after the U.S. imposed a 26% tariff on Indian imports last week, sparking a broad-based selloff in export-oriented names like Sona BLW, Samvardhana Motherson, Tata Motors, and Bharat Forge.
The stock opened at ₹923.45, its lowest point of the day so far, sharply down from Friday’s close of ₹1,026.05. It currently has a market capitalization of ₹44,986 crore and a 52-week low of ₹923.45, hit in today’s session. The average volume stood at 1.34 million shares, while the P/E ratio is at 48.9.
Export-heavy Bharat Forge has already lost over 12% in the past week, forming bearish candlesticks on both weekly and daily charts. The index has broken below its 21-day and 50-day exponential moving averages, signaling continued weakness. Technical analysts suggest the ₹1,002 level is key support. A further drop below this level could intensify the downside.
Auto stocks as a group are under scrutiny following the U.S. tariff announcement. The auto component segment, which contributes nearly one-third of the total Indian auto exports worth $21.2 billion to the U.S., is likely to bear the brunt. Industry players fear weakened demand and eroded competitiveness.
However, domestic sales data for March provided a slight buffer. Passenger vehicle sales rose 4.5% YoY and 1.4% MoM to 3.85 lakh units, supported by festive demand and dealership promotions.
Investors will now keep a close eye on how companies balance the tariff shock with domestic growth momentum.
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