Sona BLW Precision Forgings is currently trading at Rs. 700.00, up by 57.55 points or 8.96% from its previous closing of Rs. 642.45 on the BSE.
The scrip opened at Rs. 668.25 and has touched a high and low of Rs. 709.80 and Rs. 662.90 respectively. So far 144825 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 767.80 on 23-Sep-2024 and a 52 week low of Rs. 489.00 on 25-Oct-2023.
Last one week high and low of the scrip stood at Rs. 709.80 and Rs. 627.00 respectively. The current market cap of the company is Rs. 39912.53 crore.
The promoters holding in the company stood at 28.04%, while Institutions and Non-Institutions held 64.51% and 7.45% respectively.
Sona BLW Precision Forgings (Sona Comstar) has entered into an agreement with Escorts Kubota (EKL) to acquire the Railway Equipment Division (RED) of EKL, as going concern, on slump sale basis, for an enterprise value of Rs 1,600 crore, subject to the terms of the Agreement. With the proposed acquisition of RED, Sona Comstar not only enters the railway component market but also contributes to greener mobility solutions.
RED is a leading supplier of critical components for Railways, such as brakes and suspension systems for various rolling stocks. RED reported revenue of approximately Rs 950 crore and approximately EBIT of Rs 179 crore in FY24. The proposed acquisition of RED is expected to be earnings accretive for Sona Comstar right from the first year and offers significant growth opportunities.
Sona BLW Precision Forgings is one of the leading automotive technology companies in India. It is primarily engaged in designing, manufacturing, and supplying high-quality mission-critical automotive components such as differential assemblies, gears, conventional and micro-hybrid starter motors, etc.
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