ICICISecurities Upgrades Happy Forgings to Buy with target of ₹1150

Status: Pending

Age: New (14/08/2025)

TRACK

Brokerage

ICICISecurities

Analyst

Brokerage Team

Position

Bullish

Start Date

14/08/2025

Horizon

Long Term

Target Price and Expected Returns

Start Price

₹930.00

Target Price

₹1150

Expected Returns

23.6%

Summary

ICICISecurities recommends a buy rating on Happy Forgings with a target price of ₹1150, expecting continued good performance despite challenges in some segments.

ICICISecurities's justification for Happy Forgings target price prediction

HFL continued to outperform peers in Q1.
The domestic CV segment may see an uplift in the future.
Export challenges primarily due to weak macroeconomic conditions.
Order book and new order wins across segments continue to support growth.
The company maintains a limited US exposure which is reassuring.

ICICISecurities expects HFL to continue to outgrow peers/underlying industry led by its orderbook / new order wins across segments.

Sources:

https://news.google.com/publications/CAAqBwgKMJWwjwswq82iAw?hl=en-IN&gl=IN&ceid=IN%3Aen

Tags:

Brokerage Team, Bullish, Happy Forgings, ICICI Securities, stock_prediction

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