The shares of Sona BLW Precision Forgings sharply surged nearly 7 percent on July 17 after a report said that Chinese automaker BYD is in talks with the company for the supply of EV components. The Indian company may also set up a local component manufacturing plant in China, CNBC-TV18 reported.
Talks between Sona BLW and BYD have been ongoing for the past few months now, and the local component manufacturing plant in China is part of Sona BLW's long term roadmap for collaboration with BYD, the report added citing people familiar with the matter.
Moneycontrol couldn't independently verify the report.
After the news report was published, exchanges sought clarification from Sona BLW following the strong surge in share price. "In this regard, the Company wish to clarify that the Company is in discussions with several potential customers in India and globally in the ordinary course, for growth of its business," the company said.
Notably, Sona BLW derives a major portion of their revenue by providing EV components to BYD's rival – Elon Musk's Tesla.
The sharp rise in the share price was backed by a rise in trading volumes. More than 1.26 crore shares of the company have been involved in active trade today so far, as seen at 12.10 pm. This is nearly 5 times higher than its 10-day average volumes.
Sona BLW Precision Forgings shares were trading at Rs 488 apiece in the afternoon. The stock has gained nearly 8 percent in the past five days, and around 2 percent in the past one month. The stock however has plunged more than 15 percent in the past six months, and is down nearly 18 percent in 2025 so far.
Also read: Our LIVE blog on stock market updates
Notably, the stock has seen significant volatility in 2025 so far, amid US President Donald Trump's flip flops.
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