Sona BLW Precision Forgings gains on signing technology licensing agreement with Equipmake
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Sona BLW Precision Forgings is currently trading at Rs. 550.55, up by 3.75 points or 0.69% from its previous closing of Rs. 546.80 on the BSE.
The scrip opened at Rs. 554.95 and has touched a high and low of Rs. 554.95 and Rs. 548.60 respectively. So far 6122 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 608.70 on 16-Jun-2022 and a 52 week low of Rs. 397.35 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 573.00 and Rs. 520.00 respectively. The current market cap of the company is Rs. 32010.52 crore.
The promoters holding in the company stood at 33.00%, while Institutions and Non-Institutions held 55.97% and 11.02% respectively.
Sona BLW Precision Forgings (Sona Comstar) has signed a technology licensing agreement with Equipmake, a UK-based technology company that has developed high-performance electric powertrains. Equipmake's patented technology offers high power density and efficiency with high performance, making it ideal for electric cars, buses, and commercial vehicles. Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the power range of 100kW to 440 kW to Sona Comstar to manufacture and sell EV Powertrains, subsystems, and components for electric cars, buses, commercial vehicles and off-road vehicles.
Sona Comstar will lead the business development and customer sales in India, Thailand and select South Asian countries, while Equipmake will lead the sales in the rest of the world. Sona Comstar will exclusively manufacture EV Powertrains, sub-systems, and components, based on Equipmake's patented technology, for the target applications exclusively in India and other select markets. Sona Comstar will also manufacture and sell EV Powertrains, sub-systems, and components for the target applications to Equipmake and its global customers in other overseas markets. The companies expect the serial production of these systems to commence in 2025.
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.
