Shares of Sona BLW Precision Forgings Ltd. (Sona Comstar) surged over 6% intraday on Thursday after CNBC-TV18 reported that the company is entering into a strategic partnership with Chinese EV giant BYD. As of 11:52 AM, the stock was trading 4.60% higher at ₹476, having opened at ₹455.30 and touching a high of ₹483.80 earlier in the session.
According to the report, Sona BLW is set to supply critical components to BYD and is planning to establish a manufacturing facility in China. The potential deal, if finalized, could significantly enhance Sona BLW’s global EV portfolio and strengthen its ties with one of the largest electric vehicle makers globally.
The market reacted positively to the news, with investors driving the stock higher on expectations of long-term growth and deeper penetration in the Chinese EV market. The stock’s 52-week range stands between ₹380.00 and ₹768.65.
However, in a statement to stock exchanges later in the day, Sona BLW clarified that while it is “in discussions with several potential customers in India and globally in the ordinary course of business for growth,” there is “no material event or information that requires disclosure under SEBI regulations at this stage.”
The company reiterated its commitment to transparency and stated it would make disclosures as and when required under applicable laws.
