Shares of Sona BLW Precision Forgings tumbled 6% after former U.S. President Donald Trump announced a 25% tariff on all imported automobiles and light trucks. The tariffs, effective from April 2, aim to encourage automakers to shift production to the United States, strengthening domestic manufacturing.
The announcement triggered a global auto sector selloff, with leading U.S. automakers facing steep declines. General Motors (NYSE: GM) dropped 8%, while Ford (NYSE: F) and Stellantis (NYSE: STLA) lost approximately 4.5% each. Japanese automakers also felt the pressure, with Toyota, Mazda, and Subaru witnessing stock drops of 4%, 5%, and 6%, respectively.
Sona BLW Precision shares opened at ₹470.00, reaching a high of ₹480.15 and a low of ₹469.75. The stock is hovering near its 52-week low of ₹464.05, significantly down from its 52-week high of ₹768.65.
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