Sona BLW Precision Forgings gains on getting nod to make investment in Sona BLW Edrive Mexicana
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Sona BLW Precision Forgings is currently trading at Rs. 593.55, up by 6.50 points or 1.11% from its previous closing of Rs. 587.05 on the BSE.
The scrip opened at Rs. 590.45 and has touched a high and low of Rs. 595.75 and Rs. 582.20 respectively. So far 49649 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 626.00 on 23-Aug-2023 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. 609.75 and Rs. 566.10 respectively. The current market cap of the company is Rs. 34747.34 crore.
The promoters holding in the company stood at 29.76%, while Institutions and Non-Institutions held 59.88% and 10.35% respectively.
Sona BLW Precision Forgings has received approval for an investment of $1.6 million (in equivalent Mexican Pesos) in one or more tranches in the form of share capital in ‘Sona BLW Edrive Mexicana, S.A.P.I. DE C.V.’ a wholly owned subsidiary of the Company in Mexico.
SONA BLW Edrive Mexicana is setting up a plant in Mexico. SONA BLW Edrive Mexicana requires capital for meeting its pre-operative expenses. The Board of Directors of the Company in its meeting held on September 14, 2023 has approved the same.
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.
