India's Sona BLW up after long-term investors buy co stake from Blackstone

Sona Blw Precision Forgings

14/03/2023 04:45

** Shares of forged gears and differential assemblies maker
Sona BLW Precision Forgings Ltd  SONB.NS  rise as much as 4.14%
to 423 rupees, marking sharpest intraday pct gain since Feb. 6
    ** Stock set to gain after four consecutive sessions of
losses
    ** SONB on Monday said long-term investors bought
Blackstone's 20.5% stake in the co via bulk deals
    ** More than 2.3 mln shares change hands by 9:54 a.m. IST,
1.7x the 30-day avg; volumes rise above 2 mln mark for second
consecutive session
    ** Analysts, on average, rate the stock at "buy"; median PT
is 530 rupees - Refinitiv data
    ** Stock down 3.17% this year as of last close, down ~43.6%
in 2022


 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))