The overall price of acquisition shall be EUR 40.5 million, which shall be paid with their present assets
On Tuesday, shares of Sona BLW Precision Forgings zoomed over 8.6 per cent to make an intraday excessive of Rs 458.90. The scrip witnessed a large spurt in quantity by greater than 7.24 instances.
On January 09, 2022, the corporate knowledgeable the change that it has agreed to accumulate a minimum of 54 per cent shares capital and voting rights in NOVELIC, which is a self-sustaining supplier of mmWave radar sensors, notion options and full stack embedded techniques.
Sona BLW believes that with NOVELIC’s capabilities in sensors and notion options, they intend to develop within the space of autonomous and related automobile applied sciences. The overall price of acquisition shall be EUR 40.5 million, which shall be paid with their present assets.
Sona BLW Precision Forgings is an India-based automotive expertise firm. The corporate is engaged in designing, manufacturing and supplying engineered automotive techniques and parts akin to differential assemblies, gears, standard and micro-hybrid motors, BSG techniques and EV Traction motors throughout all automobile classes. The corporate develops mechanical and electrical {hardware} techniques, parts in addition to base and software software program options.
Within the final 5 buying and selling periods, the corporate has proven constructive traction because it has gained greater than 9.50 per cent. Maintain a detailed eye on this trending inventory.
