Sona BLW shares surge 8.5% on potential EV component deal with BYD
Sona BLW Precision Forgings
rose sharply on Thursday following reports that Chinese electric vehicle (EV) giant BYD is in advanced talks with the Indian auto component manufacturer for the supply of EV parts. The stock climbed as much as 8.5 per cent to ₹494 on the BSE during intraday trade,
ETMarkets
reports.
According to a CNBC-TV18 report citing sources familiar with the matter, the two companies have been in discussions for several months. The talks reportedly include plans for Sona BLW to establish a manufacturing facility in China, as part of its broader strategy to expand its global footprint and deepen ties with the world's largest EV maker.
If the deal is finalised, it would mark a notable expansion for Sona BLW, which already supplies EV components to global automakers, including Tesla.
Volume spike fuels rally, but stock still down YTD
The rally in Sona BLW's shares was supported by a significant jump in trading volumes. By 12:10 pm, over 1.26 crore shares had changed hands—nearly five times the company's 10-day average volume.
Despite Thursday's gains and a 2 per cent rise in the past month, the stock remains under pressure in 2025. It has fallen nearly 18 per cent year-to-date and over 16 per cent in the past six months.
Bearish technicals persist despite short-term rebound
On the technical front, Sona BLW's stock is trading below five of its eight key Simple Moving Averages (SMAs), including the 30-day, 50-day, 100-day, 150-day, and 200-day lines. However, it has managed to stay above its shorter-term 5-day, 10-day, and 20-day SMAs.
The Relative Strength Index (RSI) stands at 33.1, slightly above the oversold threshold of 30, indicating weak momentum. The Moving Average Convergence Divergence (MACD) remains negative at -13.2 and is below both the signal and centre lines, reinforcing a bearish bias.
If talks with BYD progress to a formal agreement, it could provide a strategic boost to Sona BLW's EV business. However, with technical indicators still signalling weakness, the stock's near-term trajectory may remain volatile. Investors will be watching for official confirmation and further clarity on potential manufacturing plans in China.
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