Sona Comstar stock to be in focus on Monday after autoparts maker signs to set up JV in China — Details here
'Sona BLW Precision Forgings Ltd, a global leader in mobility technology solutions, has signed a binding term sheet with Jinnaite Machinery Co. Ltd to establish a joint venture company in China,' the company informed the BSE through an exchange filing.
The company aims to manufacture and supply driveline systems and auto components in China. As part of the first phase of the JV, Sona Comstar will invest $12 million, and JNT will contribute $8 million in assets and business.
'As the largest electric vehicle market in the world and a leader in EV technologies, China offers tremendous opportunities for innovation and growth. By leveraging the strengths of both partners, this venture is well-positioned for strong growth, and it has the potential to become a key supplier of driveline solutions for electric vehicles in the region,' said Vivek Vikram Singh, MD & Group CEO of Sona Comstar.
Singh also highlighted that the company expects to commence the operations of the joint venture later this year for both electric vehicle (EV) and non-EV auto component customers.
Jinnaite Machinery operates a foundry utilising patented technology to manufacture complex castings and molds. The company has a strong base among the Chinese auto OEMs, and also caters to North America, Europe, and Japanese markets.
Sona BLW Precision Forgings shares closed 1.29% lower at ₹ 479.75 after Friday's stock market session, compared to ₹ 486 at the previous market close. The company announced the joint venture update on Sunday, 20 July 2025.
Shares of the auto component manufacturer have given stock market investors more than 31% returns on their investment in the last five years, but are trading 32% lower in the last one-year period. On a year-to-date (YTD) basis, Sona BLW's stock has lost 18.86% in 2025. However, the shares are trading 6.7% higher in the last five stock market sessions.
Sona BLW shares hit their 52-week high level at ₹ 767.80 on 23 September 2024, while the 52-week low level was at ₹ 379.80 on 4 April 2025, according to the BSE data. The company's market capitalisation (M-Cap) is at ₹ 29,827.06 crore as of the stock market close on Friday, 18 July 2025.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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