Sona BLW Precision Forgings Ltd.

Marquee investors like the Government of Singapore, Fidelity, FMR, ICICI Prudential Life Insurance and HDFC MF bought shares from Blackstone in the bulk deal.

HDFC Bank, Singapore's GIC and Societe Generale among buyers of about 120 mn shares; analysts say Blackstone exit removes a key overhang for the Sona stock

At 09:15 am; nearly 118.76 million equity shares representing 20.3 per cent of total equity of Sona Comstar had changed hands on the BSE, the exchange data shows

Stocks to watch today: From Sona BLW to Bank of Baroda, here are few stocks to watch out in Monday's trade

Brokerages are neutral on the stock given near term challenges and valuations

Private equity firm Blackstone on Thursday divested 13.6 per cent stake in auto component maker Sona BLW Precision Forgings Ltd for over Rs 4,000 crore through open market transactions. The shares were picked up by the Government of Singapore and SBI Mutual Fund among others, bulk deal data with the BSE showed. Blackstone, which holds a stake in Sona BLW through an entity called Singapore VII Topco III PTE. Ltd, offloaded a total of 7.94 crore shares or 13.6 per cent stake in the company, the data showed. The stocks were sold on an average price of Rs 509.10 on the BSE, a discount of 5.6 per cent from Wednesday's closing price of Rs 539.10. At this price, the transaction size is aggregated to Rs 4,044 crore. As of June quarter, Blackstone, which is one of the promoters of Sona BLW, owned 19.93 crore shares, amounting to 34.12 per cent stake in the company, shareholding pattern with the BSE showed. Following the transaction, Sona BLW share dropped 4 per cent to settle the trade at

Till 09:30 am; a combined 126 million equity shares or 21.56 per cent of Sona BLW total equity changed hands on the BSE (92.24 million) and NSE (33.76 million shares), the exchanges data show.

About 13.6% stake in Sona BLW Precision Forgings is likely to be sold via block deals on Thursday

Margins could improve given softening commodity prices

With carmakers investing billions of dollars to build EVs, auto part suppliers are also diversifying their business towards new and clean technologies and moving away from gasoline-reliant supply chai

The stock has soared 20% in nine days after media report suggested that US electric vehicle maker Tesla is in talk with at least three Indian suppliers as part of its plan to enter the Indian market

Tesla is in talks with at least three Indian suppliers to source critical parts as part of its plans to enter the Indian market

In Q1FY22, Ebitda margin improved to 27.7 per cent from 19 per cent in Q1FY21 due to better product mix and operating leverage

For those who didn't get the IPO allotment, analysts say the business model, industry outlook, management acumen and valuations of these companies should be kept in mind before investing

Market was expecting Sona to list at a muted premium and hoped Shyam Metalics would gain more than 30% on listing

The stock listed at Rs 302.40, a 4 per cent against the issue price of Rs 291 per share on the BSE