Promoter entity Blackstone sold its 20.5 percent stake in the differential- and motor-maker

Analysts see a big growth opportunity in autonomous driving

#SONACOMS Sona BLW is among the Top 10 Global Differential Bevel Gear Suppliers,among the Top 10 Global Starter Motor Suppliers for PVs, and

Motilal Oswal recommended Neutral rating on SONA BLW Precision Forging with a target price of Rs 520 in its research report dated October 29, 2022.

The sell-off has not stopped analysts from voicing their optimism for the stock. Some have also upgraded their rating on the counter arguing the sell-off in the stock is perhaps the best time to accumulate the stock.

Funds pumped in Rs 18.9 billion in just one month alone. The positive sentiment around the stock may be explained by the massive EV adoption expected in India

Semiconductor supplies have returned to normal and prices of key raw materials like metals are off 30-40 percent from their recent highs, relieving margin pressure on auto companies.

In the IPO last year, Singapore VII Topco III had offloaded half of its shareholding in Sona BLW for Rs 5,250 crore. As of June 2022, Singapore VII Topco III PTE holds around 34.12 percent stake in Sona BLW.

CNBC TV-18 had earlier reported the American private equity firm would sell a 13.6 percent stake in the firm at Rs 500 per share and raise about Rs 4,000 crore from the transaction.

Blackstone, which holds 34.12 percent stake in the Indian auto ancillaries company, will likely sell a 13.6 percent stake

Some schemes also benefited from buying in bank and financial names especially after their June quarter numbers surprised the Street positively

Sona BLW is among the Top 10 Global Differential Bevel Gear Suppliers, Among the Top 10 Global Starter Motor Suppliers for PVs, and the Largest manufacturer of differential gears for PVs, CVs & Tractors in India. Sona Comstar has 8.7% market share in the global market in Battery Electric Vehicle (BEV) Differential Assembles, 5% in Differential Bevel Gear, and 3% market share in Starter Motor. Company has 9 manufacturing and assembly facilities - 6 in India and 3 facilities in China, USA and …