India's Sona BLW down on strike at customers' plants in the U.S.

Sona Blw Precision Forgings

18/09/2023 07:02

** Shares of Sona BLW Precision Forgings  SONB.NS  fall as
much as 2% to 587 rupees
    ** Co says United Auto Workers in the U.S. went on strike at
some plants of three original equipment manufacturers (OEMs) on
Friday
    ** SONB supplies to these OEMs directly or indirectly
    ** Adds, there is minimal impact on co's sales but potential
impact may be higher if strike persists or extends to other
plants
    ** Over 432,000 shares change hands as of 10:44 a.m. IST,
0.3X the 30-day moving average
    ** Mean rating of 15 analysts is "hold"; median PT is 630
rupees - LSEG data
    ** Stock last down 1.7%, trimming YTD gain to 40.4%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))