Happy Forgings shares were in action after the company’s Board of Directors approved a significant capital expenditure (capex) of ₹650 crore. The funds will be used to set up advanced facilities for manufacturing heavyweight forged and machined components, marking a strategic expansion into non-automotive sectors.
The investment will cater to industries such as power generation, marine, mining, high-horsepower farm equipment, material handling equipment, cranes, wind energy, and oil and gas. The facility will have the capability to produce heavyweight components weighing up to 3,000 kilograms.
The new facility is set to be the first of its kind in Asia and the second largest in the world for such components. The Board plans to allocate the ₹650 crore investment over a period of 2–3 years to establish advanced forging capabilities.
With this expansion, Happy Forgings aims to strengthen its position in the non-automotive industrial sector, addressing niche markets requiring heavyweight components.
Happy Forgings, a key manufacturer of complex heavy forged and high-precision machined components, derives approximately 30% of its business from the farm equipment sector. The company, which listed on stock exchanges in December 2023, continues to grow its industrial footprint.
On January 06, 2025, Happy Forgings share price ended 1.63% lower at ₹996.05 on BSE. Happy Forgings’ share price reached a 52-week high of ₹1,298.95 on July 04, 2024, and a 52-week low of ₹815.55 on March 18, 2024. As per BSE, the total traded volume for the stock stood at 4032 shares with a turnover of ₹40.95 crore.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their research and assessments to form an independent opinion about investment decisions.
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Published on: Jan 6, 2025, 4:19 PM IST
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