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Strong fundamentals appear to be driving interest in the stock of forgings company, El Forge.

While the stock closed weak today at Rs 99.75 on the BSE, it has gained around 23 per cent week on week. The company, which is currently expanding capacity, is expected to benefit immensely from the Bosch Groups plans for the Indian market.

Bosch is the holding company for MICO, one of El Forge's largest clients, generating 20 per cent of its revenues. Analysts tracking the company also said that they expect exports to be the key driver for growth.

An analyst with a leading domestic brokerage said that exports would contribute to 22 per cent of the revenues in FY07.

Deeptha Rajkumar

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