India's Sona BLW slides nearly 6% on block deals

Sona Blw Precision Forgings

31/05/2023 07:28

** Shares of Sona BLW Precision Forgings Ltd  SONB.NS  lost
as much as 5.65% to 503 rupees, a three-week low
    ** About 21.84 mln shares, aggregating to 3.7% equity,
change hands in nine blocks as of 11:46 a.m. IST, at a price
range between 506 rupees and 511.90 rupees per share
    ** Promoter entity Aureus Investment is likely to sell up to
3.25% stake, media reports said post market hours on Tuesday
    ** SONB did not immediately respond to Reuters' request for
comment
    ** Stock is most active in over nine months, with a trading
volume of 29.83 mln shares as of 11:46 a.m. IST, 9.4 times the
30-day avg - Refinitiv data
    ** Of the 15 analysts tracking SONB, nine maintain "buy",
four suggest "sell" and two recommend "hold"; median TP is 555
rupees

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))