Novelic buy adds to Sona BLW's growth opportunities; stock up 6% in one day

Brokerages are neutral on the stock given near term challenges and valuations

Ram Prasad Sahu
Last Updated at January 10, 2023 23:05 IST

Market capital of ancillary firms shrink as automobile sector slowdown

Sona BLW is looking at expanding its presence in the electrified autonomous vehicle segment globally

The stock of Sona BLW Precision Forgings (Sona BLW) was up 5.92 per cent in trade on Tuesday after the acquisition of a 54 per cent stake in Serbia-based Novelic. The radar sensor technology company, with a focus on in-cabin sensing technology, was purchased by Sona BLW for an enterprise value of €64.5 million or about Rs 566 crore.

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