Friday, November 07, 2014
Hilton Metal Forging Ltd: Beautiful Chart Pattern
Hilton Metal Forging Ltd is one of the cheapest stocks in the sector. The Indian Forging industry has now emerged as a major contributor to the manufacturing sector of the Indian economy. Forging industry is a basic industry and such industries tend to grow in a country in relation to the rate of growth of its GDP.
As far as India is concerned, with the new NDA government taking measures, we can expect our GDP to improve in the near future and therefore, the basic industries will grow and so will the industry.
Since the forging industry is largely dependent on the automotive sector, the forging industry will also continue to grow and do well. Thanks to outsourcing, opportunities for exports are huge. An increasing number of companies from all over the world are coming to India to procure components and products. Many companies are working hard to capitalise on this. Hence the optimism that the forging industry will continue to grow and do well in the immediate future.
Forging is a process in which metals are shaped into desired designs by applying compressive forces. This technique is very robust compared to a number of other metal shaping techniques because of the strength acquired by the metal during forging. Some metals are processed hot while others are processed cold. There are a number of forging methods such as closed die, press, and upset forging; open die forging; and cold forging. The Automotive industry is the major end-user of forged products, followed by the Engineering Machinery and Railway industries.
TechNavio's analysts forecast the Forging market in India to grow at a CAGR of 7.29 percent over the period 2014-2018.