Sona BLW Precision shares rise over 2% on inaugurating new plant in Manesar

Sona BLW share price: Shares of Sona BLW Precision Forgings (Sona BLW) rose up to 2.37 per cent to hit an intraday high of Rs 649.20 per share on Tuesday, October 22, 2024. 

The uptick in Sona BLW share price came after the company announced that it has inaugurated its new plant in Manesar, Haryana.

In an exchange filing, Sona BLW said, “We are glad to inform you that the company has inaugurated its new plant in Manesar (Haryana), having an address at Near Sector 2A, Industrial Estate, IMT Manesar, Gurugram, Haryana, 122050 on 21st October 2024.”

The company revealed that this is its second plant for the driveline business in IMT Manesar, Haryana. 

Additionally, the company said that production at the new plant has commenced. “This plant will assist in catering to the growing demand for the driveline products of the company,” Sona BLW said in a statement.

Sona BLW Precision Forgings Limited, known as Sona Comstar, is a leading global mobility technology company established in 1995 and headquartered in Gurugram.

The company operates manufacturing and assembly facilities, research and development (R&D) centres, and engineering capability centres in India, the USA, Serbia, Mexico, and China. 

Sona Comstar specialises in designing, manufacturing, and supplying critical automotive systems and components to OEMs, with a strong focus on driveline and traction motor solutions for the burgeoning electric vehicle (EV) market. 

The company boasts advanced R&D, engineering, and technological expertise in precision forging, mechanical and electrical systems, mmWave radar sensors, and software development, serving a diverse range of geographies, products, vehicle segments, and customers.

The market capitalisation of Sona BLW is Rs 39,545.99 crore, according to BSE. The company falls under the BSE 200 category. 

At 11:45 AM, shares of Sona BLW were trading 0.38 per cent higher at Rs 636.55. In comparison, BSE Sensex was trading 0.40 per cent lower at 80,823.20 levels.