logo
Sona Comstar appoints Jeffrey Mark Overly as Chairman after Sunjay Kapur's sudden demise

Sona Comstar appoints Jeffrey Mark Overly as Chairman after Sunjay Kapur's sudden demise

Mint4 hours ago

Automotive components manufacturer Sona Comstar (Sona BLW Precision Forgings) announced on Monday, 23 June 2025, that it has appointed Jeffrey Mark Overly as its new Chairman after former Chairman Sunjay Kapur's sudden demise, according to an exchange filing.
'The Board of Directors of the company appointed Mr. Jeffrey Mark Overly (DIN:09041143), as the Chairperson of the Board of Directors of the company,' said Sona Comstar in the BSE filing.
Jeffrey Mark Overly, the new Chairman of Sona Comstar, has been a part of the company as an Independent Director since 12 February 2021, and was reappointed as the same on 30 April 2025, as per the BSE filing. The appointment as an independent director of the firm positioned Overly to serve for almost five years in the company.
According to Sona Comstar's official website, Jeffrey Mark Overly is based in New York City, United States (US). The industry veteran was previously responsible for monitoring, advising, and supporting strategic opportunities in Blackstone's global portfolio company holdings through Lean Operational Excellence and supply chain improvement.
He also has experience working for other big industry majors like Kohler Company, General Motors Corp. and Delphi Corporation.
On the education front, Jeffrey Mark Overly has a BS in Industrial Management from the University of Cincinnati and a Master's degree in Business from Central Michigan University, as per the website data.
Sona BLW Precision Forgings shares closed 2.05 per cent lower at ₹ 477.35 per share after Monday's trading session, compared to ₹ 487.35 at the previous market close. The company announced the appointment of the new Chairman after market hours on 23 June 2035.
The shares of the auto component maker have given stock market investors more than 32 per cent return on their investment in the last five years. However, in the last one-year period, the stock is trading 24.87 per cent lower.
The shares hit their 52-week high level at ₹ 767.80 on 23 September 2025, while the 52-week low level was at ₹ 379.80 on 7 April 2025, according to BSE data. The company's market capitalisation (M-Cap) stood at ₹ 29,677.71 lakh crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ellenbarrie Industrial raises ₹256 crore from anchors investors before IPO
Ellenbarrie Industrial raises ₹256 crore from anchors investors before IPO

Business Standard

timean hour ago

  • Business Standard

Ellenbarrie Industrial raises ₹256 crore from anchors investors before IPO

Ellenbarrie Industrial Gases on Monday said it has raised Rs 256 crore from anchor investors, a day ahead of the launch of its initial share sale for public subscription. HDFC Mutual Fund (MF), Axis MF, Bandhan MF, Tata MF, Motilal Oswal MF, Nippon India MF, HDFC Life Insurance, British multinational Prudential through Eastspring Investments, ICICI Lombard General Insurance, Citigroup Global Markets Mauritius, and Copthall Mauritius Investment, among others, have been allotted shares in the anchor round. According to a circular uploaded on BSE's website, Ellenbarrie Industrial Gases allocated a little over 63.93 lakh equity shares to 28 entities at Rs 400 per share, which is the upper end of the IPO price band. The Rs 852-crore initial public offering (IPO) will open for public subscription on June 24 and conclude on June 26. The price band has been set at Rs 380-400 per share for the issue. The initial public offer is a combination of a fresh issue of shares worth Rs 400 crore and an offer for sale (OFS) of 1.13 crore shares valued at Rs 452.53 crore at the upper end of the price band by promoters - Padam Kumar Agarwala and Varun Agarwal. This aggregates the issue size to Rs 852.53 crore. Proceeds from the fresh issue to the extent of Rs 210 crore will be used for payment of debt, Rs 104.50 crore to set up an air separation unit at its Uluberia-II plant in West Bengal, and a portion will be used for general corporate purposes. Ellenbarrie manufactures and supplies industrial gases, dry ice, synthetic air, fire-fighting gases, medical oxygen, liquid petroleum gas, welding mixtures, and speciality gases catering to a wide range of industries. The company's revenue from operations increased 16 per cent to Rs 312.48 crore in FY25 from Rs 269.48 crore in the preceding fiscal. Its profit after tax surged by 84 per cent to Rs 83.29 crore in the 2024-25 financial year against Rs 45.29 crore in the year-ago period. Further, investors can bid for a minimum of 37 shares and multiples thereof. The shares of the company will be listed on the BSE and NSE. Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the book-running lead managers, and KFin Technologies is the registrar of the issue. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Hindustan Construction MD Jaspreet Bhullar resigns with immediate effect
Hindustan Construction MD Jaspreet Bhullar resigns with immediate effect

Business Standard

time4 hours ago

  • Business Standard

Hindustan Construction MD Jaspreet Bhullar resigns with immediate effect

Bhullar sent his resignation letter to company chairman Ajit Gulabchand in the afternoon, and the same was accepted by the board later in the day, as per an exchange filing The HCC scrip closed 1.02 per cent down at Rs 30.08 a piece on the BSE on Monday, as against a 0.62 per cent fall in the benchmark index. | File Image Press Trust of India Mumbai Hindustan Construction Company on Monday announced its managing director and chief executive Jaspreet Bhullar has quit with immediate effect. The company, however, did not disclose the reasons for the resignation. Bhullar sent his resignation letter to company chairman Ajit Gulabchand in the afternoon, and the same was accepted by the board later in the day, as per an exchange filing. "The Board ...has accepted his request for relieving him with effect from close of business hours of June 23, 2025," the filing said. Bhullar was appointed as the chief executive of the company in 2023 and given a five year term. He had joined the company from the Brookfield-run Multiplex Constructions India. The HCC scrip closed 1.02 per cent down at Rs 30.08 a piece on the BSE on Monday, as against a 0.62 per cent fall in the benchmark index.

Markets slump on heightened tensions in Middle East; Sensex drops 500 pts
Markets slump on heightened tensions in Middle East; Sensex drops 500 pts

The Print

time4 hours ago

  • The Print

Markets slump on heightened tensions in Middle East; Sensex drops 500 pts

After losing over 900 points in day trade, the 30-share index recovered some lost ground to close with a loss of 511.38 points or 0.62 per cent at 81,896.79. Besides, selling pressure in IT, tech and auto stocks amid elevated global crude prices dented market sentiments, traders said. Mumbai, Jun 23 (PTI) Stock market benchmark indices Sensex and Nifty tumbled on Monday, as intensifying tensions in the Middle East after the US bombed three major nuclear sites in Iran unnerved investors. During the day, it tumbled 931.41 points or 1.13 per cent to 81,476.76. As many as 2,204 stocks declined, while 1,854 advanced and 182 remained unchanged on the BSE. The 50-share NSE Nifty dropped 140.50 points or 0.56 per cent to 24,971.90. 'The entry of the US into the Israel-Iran conflict heightened tension as panic selling by investors triggered major correction in early trade. Also, if oil prices shoot up rapidly due to the ongoing war, higher import bills would lead to a fast decline in the local currency against the dollar and weigh on inflation. 'However, FIIs turning out buyers of local shares worth over Rs 10,000 crore in the past 4 sessions shows that India's strong fundamentals continue to attract foreigners despite global uncertainty,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The US bombed three major nuclear sites — Fordow, Natanz and Isfahan — in Iran, directly engaging itself in the Israel-Iran conflict. From the Sensex pack, HCL Tech, Infosys, Larsen & Toubro, Mahindra & Mahindra, Hindustan Unilever, ITC, Tata Consultancy Services and Maruti were the biggest laggards. In contrast, Trent, Bharat Electronics, Bajaj Finance and Kotak Mahindra Bank were among the gainers. The BSE smallcap gauge climbed 0.57 per cent, and the midcap index rose 0.20 per cent. Among BSE sectoral indices, BSE Focused IT lost 1.48 per cent, IT tanked 1.46 per cent, teck (1.10 per cent), auto (0.88 per cent), FMCG (0.62 per cent), telecommunication (0.50 per cent) and bankex (0.38 per cent). Capital Goods jumped 0.94 per cent, services (0.73 per cent), metal (0.71 per cent), commodities (0.46 per cent) and consumer durables (0.38 per cent). 'Last Friday, markets buildup in anticipation of easing Middle East tensions, following the US announcement of a two-week window to deliberate its involvement in the Israel-Iran conflict. However, the unexpected US airstrike on Iran's nuclear facilities over the weekend disrupted those expectations, triggering a sharp rise in crude oil prices and leading to consolidation in the domestic equity market,' Vinod Nair, Head of Research, Geojit Investments Limited, said. In Asian markets, South Korea's Kospi and Japan's Nikkei 225 index settled lower, while Shanghai's SSE Composite index and Hong Kong's Hang Seng ended higher. European markets were trading lower in mid-session. US markets ended mostly lower on Friday. Global oil benchmark Brent crude climbed 0.49 per cent to USD 77.39 a barrel. Despite the initial setback, the market recovered some of its losses, supported by gains in capital goods and metal stocks, as fears of an immediate oil supply disruption remained low, he added. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,940.70 crore on Friday, according to exchange data. On Friday, the 30-share BSE Sensex surged 1,046.30 points or 1.29 per cent to settle at 82,408.17. The Nifty climbed 319.15 points or 1.29 per cent to 25,112.40. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store