Sona BLW shares fall 8% intraday as Chairman's demise, Israel-Iran tensions dent sentiments
Shares of Sona BLW Precision Forgings fell over 8% on Friday on the intraday basis dragged by an ill-fated demise of company's Chairman and Non-Executive Director Sunjay Kapur on Thursday. The overall weak market sentiments on the back of growing tensions between Israel and Iran added to the woes.
ADVERTISEMENT "With profound sadness, we announce the passing of our esteemed Chairman and Non-Executive Director, Mr. Sunjay Kapur on June 12, 2025, in England, United Kingdom," the filing said.
"We assure our customers, business partners, employees, and shareholders that our operations and prospects remain unchanged as we honor his legacy. We are committed to upholding his legacy by advancing our mission and the values he instilled in Sona Comstar," the filing said further.
Fresh geopolitical tensions which flared on Friday also caused significant damage to the market mood as Israel launched attacks against military and nuclear sites in Iran, which left key military commanders and nuclear scientists dead while stoking fears of a full-blown war in the region.Asian markets including India fell sharply. India's headline index Nifty fell by over 400 points or 1.6% to hit the day's low of 24,473 while the BSE Sensex plunged by over 1,300 points to touch the bottom of 80,354.59/.The selling pressure was seen across sectors with banks, auto and energy stocks getting most severely punished.
ADVERTISEMENT While the auto stocks made some recovery, the Nifty Auto index fell 500 points or 2% in the day's trade with 14 stocks out of 15, trading in the red. Sona Comstar, formerly known as Sona BLW Precision Forgings, is a leading Indian-based automotive technology company specialising in the design, manufacturing, and supply of automotive systems and components. They produce parts for both traditional and electric vehicles, including differential assemblies, gears, starter motors, and EV traction motors.
ADVERTISEMENT The company reported its highest-ever quarterly net profit, despite a year-on-year decline in revenue for the fourth quarter. In Q4 FY25, the company recorded a net profit of ₹164 crore, reflecting a 10% YoY increase. Revenue for the quarter stood at Rs 868 crore, marking a 2% decline.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
21 minutes ago
- Hindustan Times
₹8.5 crore for a 5 BHK apartment in Mumbai's Borivali sparks social media reactions
A 5 BHK apartment in Mumbai's Borivali has been listed for over ₹ 8.52 crore. Spanning more than 2,300 sq ft, the asking price comes to around ₹ 35,000 per sq ft. The listing has sparked a buzz on social media platform X, with users reflecting on the sharp rise in property prices in the suburb over the past two decades. Mumbai real estate update: A 5 BHK apartment in Mumbai's Borivali has been listed for over ₹ 8.52 crore. Spanning more than 2,300 sq ft, the asking price comes to around ₹ 35,000 per sq ft.. (Picture for representational purposes only)(Mehul R Thakkar/HT) While many expressed disbelief, real estate experts say the surge aligns with post-pandemic market trends, with per sq ft rates in Borivali now reaching up to ₹ 56,000. Notably, in 2024, the suburb saw one of its most expensive deals, a 4 BHK luxury apartment sold for ₹ 14 crore at ₹ 56,000 per sq ft. Borivali in the western suburbs of Mumbai is approximately a 2-hour drive from South Mumbai, depending on traffic conditions. According to a listing on a 5 BHK apartment located within a 1-km radius of Borivali railway station was listed for resale at ₹ 8.52 crore. Reacting to the listing, users recalled a time 20 years back when 2 BHK apartments in Borivali were priced between ₹ 15–20 lakh, and 5 BHK units weren't even part of the market supply. "Borivali sells 5 BHK apartments for ₹ 8 crore++ can't believe.. 20+ years ago, during my childhood: 2 BHK was available for ₹ 15-20 lakh in Borivali and 5 BHK didn't exist certainly," said an X user. While some users expressed shock at the current price tag, others said the rise was expected. ' ₹ 1.5 crore with 10% inflation for a BHK over 20+ years... ₹ 8 crore for a 5 BHK today isn't surprising,' one user commented. Another X user cited growth in the stock market over 25 years and said "with the Indian growth story and stock market performance, this much is expected." Also Read: Mumbai records 11,521 property registrations in June, sees 1% YoY dip Borivali's most expensive deal: 4 BHK apartment sold for ₹ 14 crore It should be noted that in 2024, Borivali recorded one of its priciest deals when a 4 BHK luxury apartment sold for ₹ 14 crore, clocking in at ₹ 56,000 per sq ft, according to property registration data accessed by According to the documents, the 4 BHK apartment, which is 2,497 sq ft, is located in a Grade A residential building named Aquaria Grande constructed by the Wadhwa Group. Also Read: Top real estate deal in Mumbai's suburbs: 4 BHK apartment in Borivali sells for ₹ 14 crore at ₹ 56,000 per sq ft This deal was perhaps the highest rate at which a property has been sold in Borivali and the price is at par with other locations like Andheri, Vile Parle, Dadar and Mahim of Mumbai, real estate experts had told Move to Dubai if you have ₹ 8 crore, says X user amid Borivali price buzz Amid the buzz over Borivali's ₹ 8.5 crore apartment listing, one X user suggested that those with such a budget should consider relocating to Dubai instead. 'If you have ₹ 8 crore, it's better to move to Dubai. Start a company in a free zone, get a 2-year resident visa, earn tax-free income, and invest ₹ 4.5 crore in property to qualify for a golden visa. Plus, home loan rates there are down to 3.5%,' the user wrote. What real estate experts say about Borivali's soaring real estate prices According to local brokers, the average price of apartments in Borivali ranges between ₹ 25,000 and ₹ 40,000 per sq ft, with most projects trading around ₹ 30,000 per sq ft. 'Residential apartments in Borivali are typically fetching ₹ 30,000 to ₹ 35,000 per sq ft across most projects,' said Dhiren Joshi, a real estate consultant based in the area. 'In some luxury projects, prices have touched ₹ 40,000 to ₹ 45,000 per sq ft, and the highest so far has been ₹ 56,000 per sq ft,' he said. While Borivali is seeing rapid appreciation, it still remains more affordable compared to Mumbai's most expensive pockets like Pali Hill in Bandra and Worli, where luxury apartment prices range from over ₹ 1 lakh to as high as ₹ 2.84 lakh per sq ft, according to brokers. According to Wikipedia, Borivali gets its name from the abundance of 'bor' bushes that once thrived in the area. These bushes bear a sweet fruit known as 'ber' in English, or berries. The name is believed to be derived from the Marathi words bori-vali, meaning "place of berries." Historically, the region was known for these berry-laden shrubs, which played a key role in shaping its identity and name. Borivali-Goregaon belt witnesses ₹ 40,083 crore in home sales in FY25, driven by redevelopment and demand surge The Borivali-Goregaon corridor recorded home sales worth ₹ 40,083 crore in FY 2024–25, marking a 39% year-on-year growth. The surge has been largely driven by a wave of redevelopment projects and strong end-user and investor demand, said media reports, cementing Borivali's status as a key real estate hotspot in Mumbai. Also Read: Mumbai's housing affordability is at a 15-year high, but homeownership still remains out of reach for most buyers Improved connectivity has further boosted the area's appeal. With the operational Metro Line 2A, seamless access via the Western Express Highway, and the upcoming Mumbai-Ahmedabad bullet train hub, commuting has become significantly easier, making Borivali a preferred choice for homebuyers, reports said.
Time of India
24 minutes ago
- Time of India
Meta puts finfluencers on notice: Sebi verification now mandatory for investment ads on Facebook, Instagram
Ads without Sebi? You'll still need to verify Live Events Sebi and Meta's joint front against fraud (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Meta has put self-styled financial influencers on notice by mandating Securities and Exchange Board of India (Sebi) registration verification for all securities and investment ads targeting users in India, a sweeping move aimed at curbing the rise of unregulated market advisors on social media platforms like Facebook and Instagram Announced on June 26, the policy requires all advertisers promoting investment products to Indian audiences, including those running global campaigns, to verify the person or organisation benefiting from and paying for the ad by submitting valid Sebi registration details. The verified name, Sebi number, and location will be publicly displayed on the advertisement, along with disclaimers set during ad new rules take effect from July 31, 2025, with verification tools being gradually rolled out. Meta will begin rolling out the verification process on June 26, while verification is expected to be available to 100% of all eligible advertisers globally by July 28, 2025, the company said, adding that advertisers will have at least one month to complete the process from the date they become has introduced alternate verification pathways for advertisers who are exempt from Sebi registration, such as financial educators or training providers. These individuals must submit a government-issued ID, while organisations will need to upload business documents. The verified identity will still be disclosed on the ads, Meta company added that ads solely focused on financial education, skill-building, or training may not require Sebi verification, though verification under alternate criteria will still that go live before July 31 will not need to be retroactively edited, provided the advertiser account has been verified under the new move is the result of sustained engagement between Meta and Sebi. Earlier this year, after extensive consultations, the market regulator worked with digital platforms to bring transparency to financial advertising amid growing concerns over fraud by so-called "finfluencers."In a March 21 press release, Sebi had urged all registered intermediaries advertising on digital platforms to register their verified contact details with the regulator, citing a surge in securities-related scams on platforms such as Facebook, Instagram, YouTube, WhatsApp, Telegram, X (formerly Twitter), Google Play Store, and Apple App said its updated policy aims to prevent fraud, impersonation, and enhance consumer safety, and added that similar rules may be expanded to cover other financial product categories in the future.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
24 minutes ago
- Time of India
Ace Alpha Tech IPO: SME issue subscribed 40 times on day 3 so far. GMP rises to 41%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The SME issue of Ace Alpha Tech Private Limited (AATPL) was subscribed nearly 40 times on the final day so far, receiving more than 13.15 crore share bids against 33.50 lakh equity shares offered by the retail portion was subscribed 42.03 times on the final day with the number of share bids received amounting to 6,48,90,000 against 15.44 lakh shares available for bidding. The non-institutional investor (NII) quota was booked 52.44 times while the qualified institutional buyers' category was subscribed 29.39 times. Ace Alpha Tech IPO opened on Thursday, June 26. The company plans to raise 32.22 crore through the public issue which comprises a fresh offer of 35.48 lakh equity shares aggregating to Rs 24.48 crore and an offer for sale (OFS) of 11.22 lakh shares worth Rs 7.74 the upper price band of Rs 69 per share, the shares of Ace Alpha Tech were commanding a premium of 41% or Rs 28 per IPO is priced in the range of Rs 65 to Rs 69 per share with a lot size of 2,000 in 2012, AATPL offers services related to legal, accounting, bookkeeping, auditing activities, tax consultancy, market research, public opinion polling, business, and management provides a range of services, including institutional trading tools, B2B retail trading platforms, user management systems, and proprietary trading systems. The company caters to a diverse clientele, from institutional investors to retail traders, and emphasises seamless order management, risk mitigation, and efficient trading Alpha Tech also provides innovative user management systems to enhance security, compliance, and risk mitigation within trading allotment of shares is expected to take place on July 1, Tuesday with initiation of funds on July 2, Wednesday along with credit of shares to the demat accounts. The stock is expected to get listed on the BSE SME platform on July 3, issue is being managed by Narnolia Financial Services, while Skyline Financial Services acts as the Alpha Tech's financial performance underscores rapid growth. The company posted a PAT of Rs 10.65 crore for FY 2023–24, up from Rs 3.32 crore the previous year. Margins are notably strong, with a PAT margin of over 70% and an EBITDA margin approaching 96%.The company plans to utilize the proceeds from the fresh issue for capital expenditure, potential acquisitions, and general corporate purposes.
