On Monday it was reported that Sandhar Technologies had an increment of shares by 13 per cent to Rs Rs 294.30. As per the charts on the BSE intra-day trade. Alongside the US company, Tesla is in motives to join the Indian markets and is said to have conjured talks with three companies to supply the parts of the cars.
Three of the listed companies which have come to known are Sandhar Technologies, Bharat Forge and Sona BLW Precision Forgings which might source the US company with critical electronic resources. The resources shall collaborate instrument panels, windshields, differential brakes, gears and power seats.
The stock of Soma Comstar has also gained a boost of 8 per cent to Rs 512.50 while Bharat Forge rallied 7 per cent to Rs 775. Alongside the S&P BSE Sensex was up 0.71 per cent at 56,524 points.
“The high double-digit sales, profit after tax growth lies ahead with lean balance sheet and robust capital efficiency. Expect sales to grow at 20 per cent CAGR over FY21-23E. The growth will be led by an increase in wallet share with existing clients, new client additions & order wins, infra-revival related growth in cabin space are among key triggers for future price performance,” the brokerage said in a stock update.