India's Happy Forgings rises; Motilal sees diversification offsetting core weakness

Happy Forgings

10/03/2025 10:09

** Happy Forgings HAPY.NS rises ~2% to 825.60 rupees

** Motilal Oswal Financial Services says diversification helped HAPY offset demand weakness in core segments

** Sees rev contribution from industrials segment rising to 18%-20% over two-three years

** Expects rev contribution from passenger vehicle segment increasing to 8%-10% over three years

** Retains "buy"; PT of 980 rupees

** HAPY down 17.2% YTD

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))