Sona BLW Precision Forgings comes within Rs 14 of 52-week high after QIP launch; catch latest updates

Sona BLW Precision Forgings (SONACOMS) shares continued to rise for a second straight session on Thursday after the Gurugram-headquartered automotive technology company launched a qualified institutional placement (QIP) of shares at a discount of about three per cent to the market price. On BSE, the SONACOMS stock--part of the BSE 200 index--gained by as much as Rs 28.7 or 4.0 per cent to Rs 751 apiece during the session.

With that, the stock came within Rs 14 of a 52-week high registered in July. 

The auto parts maker's QIP issue hit the Street at Rs 699.01 per share, translating to a discount of 3.2 per cent to the market price. 

The company plans to raise up to Rs 2,400 crore through the QIP issue.

Sona BLW Precision Forgings Q1 FY25 Results 

In July, the auto tech company registered a standalone net profit of Rs 155 crore for the quarter ended June 30, marking a jump of 52.5 per cent over the corresponding period a year ago.

Its quarterly revenue expanded to Rs 830.1 crore from Rs 673.8 crore a year ago, according to a regulatory filing. 

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