ICICI Securities lifts Happy Forgings target to Rs 2,200 on export and domestic growth

moneycontrol.com

ICICI Securities retained a buy rating on Happy Forgings with a raised target price of Rs 2,200, after its Q1FY27 operating performance beat estimates. The brokerage cited a healthy order book of Rs 9.5 billion executable over 2-3 years and accelerating exports, plus gains in domestic commercial vehicle, passenger vehicle and farm segments. Target was revised from Rs 1,750. ICICI Securities cited an ongoing global supply chain shift and Happy Forgings' expanding capabilities in heavier, complex components as underpinning long-term growth beyond current scale.


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ICICI Securities lifts Happy Forgings target to Rs 2,200 on export and domestic growth | News Minimalist