India's Sona BLW up on govt incentive for electric two-wheeler motor

Sona Blw Precision Forgings

23/02/2024 04:09

** Shares of automotive component maker Sona BLW Precision
Forgings  SONB.NS  up nearly 5% at 624.8 rupees, before trimming
some gains 
    ** SONB says it received nod for incentive under
government's scheme to make hub wheel drive motor for electric
two-wheelers 
    ** If levels hold, stock set for weekly gain after two weeks
of decline 
    ** Avg analyst rating on stock is 'buy' with median price
target of 665 rupees 
    ** SONB down 3.4% YTD, having climbed 53.6% in 2023 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))