High ROE and High ROCE stock: Shares of this automotive company zoomed over 4 per cent after it announced business expansion!
Today, shares of the company saw a spurt in volume by more than 3 times on BSE.
On Monday, shares of Sona BLW Precision Forgings Ltd zoomed 4.01 per cent to an intraday day high of Rs 462 per share. At the closing bell, shares of the company ended the day in green, up 3.34 per cent to Rs 459.20 per share.
Sona BLW Precision Forgings announced that it has inaugurated its second-largest manufacturing plant in Chakan, Pune. The new plant manufactures driveline products for EV and non-EV applications and serves customers in India and globally.
The new plant has a production capacity of nearly 11.8 million gears, which is expected to reach 20.1 million differential gears by the end of FY25. The total investment required for this plant is estimated at Rs 231 crore. The growing net order book of the company will rise to Rs 23,800 crore after the expansion of business.
Sona BLW Precision Forgings is an India-based automotive technology company. The company is engaged in designing, manufacturing and supplying engineered automotive systems and components. The company reported positive numbers in its Quarterly Results and annual results.
Today, shares of the company saw a spurt in volume by more than 3 times on BSE. The stock has an ROE of 21.48 per cent and a ROCE of 21.55 per cent. It is up by 9 per cent in the last 5 days and over 14 per cent in just 1 month.
Investors should keep an eye on this stock.