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Time of India
13-06-2025
- Automotive
- Time of India
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. "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. 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. 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.
Economic Times
13-06-2025
- Automotive
- Economic Times
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 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)
Malaysiakini
12-06-2025
- Politics
- Malaysiakini
MIC must democratise itself from within
COMMENT | If uniting Indian-based parties under a single umbrella is the first step in reviving MIC, the next crucial phase must involve a deeper reinvention of its core purpose and strategies. Political unification without structural and cultural renewal will only reproduce old patterns. MIC must now become a party that not only seeks electoral success but actively drives community empowerment, protects cultural heritage, and develops long-term solutions to systemic inequality. One of MIC's most pressing internal challenges is...
Malaysiakini
11-06-2025
- Politics
- Malaysiakini
MIC at crossroads - unity, not legacy, is the future
COMMENT | The MIC stands at a critical juncture in its history. Once the indisputable voice of Indian Malaysians in the national political discourse, today it faces an existential crisis. The community it once championed has grown disillusioned, its youth have largely disengaged, and its influence in national politics has waned dramatically. New Indian-based parties have mushroomed in recent years, each claiming to serve the Indian cause. Yet, rather than strengthening the community, this fragmentation has diluted its political power and weakened its ability to influence national policy.
Daily Mirror
09-06-2025
- Business
- Daily Mirror
Nigel Farage accused of 'selling fairy dust' over unfunded steelworks plan
Reform leader Nigel Farage said he wants to reopen the Port Talbot steelworks in Wales, but is under pressure to say how he would achieve it after failing to give answers today Nigel Farage has been accused of "selling fairy dust" after saying he wants to reopen Port Talbot's blast furnaces without a plan to pay for it. The Reform leader announced his desire with a wave of fanfare - but was unable to say how he would achieve it. Mr Farage admitted he would need the help of central government and private businesses, and conceded it would cost billions of pounds. During a press conference in Wales he was confronted with claims the furnaces are "beyond recovery", with the cost of building a brand new steelworks costing around £3billion Floundering Mr Farage said: "Nothing is impossible, but it might be difficult, it might be easier to build a new one." He said it was an "ambition" to reopen the blast furnaces, which closed last year as operator Tata moves to a greener electric arc. The Indian-based company said it was losing £1million a day in Port Talbot. The Reform leader has set his sights on winning control of the Welsh Parliament, the Senedd. Following his press conference, a spokesman for the Community Union said: 'We will always support credible policies that create more well-paid jobs in the steel sector, but our steel communities deserve better than to be used as a political football. If Reform have serious plans for the future of our steel sector in Wales, they should set them out in full.' And Labour MP Stephen Kinnock, whose Aberafan Maesteg constituency includes Port Talbot, said Mr Farage was pitching "an operation that no one with any proper knowledge of steelmaking thinks is credible". Mr Kinnock went on: "Farage is a dyed-in-the-wool Thatcherite cosplaying as a socialist. It has been a really challenging time for our community. Politicians should focus on what we can achieve through Labour's £2.5bn Steel Fund - not insulting our intelligence by selling snake oil & fairy dust." A Labour Party spokesman said: ' Nigel Farage is all talk, no plan, and would risk chaos, cuts and decline for Britain. 'He admitted today that it is a 'massive expensive job to reopen blast furnaces' costing 'in the low billions', without offering any explanation for how he would pay for it. Reform UK is just not serious." At his press conference Mr Farage acknowledged it would cost "in the low billions" to repopen the blast furnances, and said "private business partners" would have to be brought in. "Reopening a blast furnace is not an easy thing," he admitted. Darren Millar, leader of the Welsh Conservatives' Senedd group, said: "Nigel Farage's empty and uncosted promises are nothing more than a mirage. The people of Port Talbot won't be taken for fools." And Heledd Fychan, of Plaid Cymru, said: "Today, Reform have shown us what they offer Wales, empty headlines and nonsensical policies. Farage has parachuted himself into a community recently devastated by UK government inaction, and is taking advantage of the loss by claiming to reopen the blast furnaces, something the industry have already told us is impossible."
