Sona BLW Precision Forgings Ltd – Breakout OpportunityDate : 31-Jan-2024
Rating : Buy (Mid Term as well as Long Term Opportunity)
LTP : Rs. 618.20
Target : (1) Rs. 669 --> (2) Rs. 706 ++
SL : Rs. 550
Technical View :
NSE:SONACOMS has given breakout from its secondary down trend within primary uptrend. MACD crossover is done on 31-Jan and RSI is already in buy zone. Indicates bullish sentiment for the coming days.
Company Info :
NSE:SONACOMS is an India-based global automotive technology company engaged in designing, manufacturing and supplying engineered automotive systems and components such as differential assemblies, gears, conventional and micro-hybrid motors, BSG systems and EV Traction Motors across all vehicle categories.
EV Segment Outlook :
NSE:SONACOMS is well placed to drive the EV push globally with its presence in India, US, Europe and Asia with its one of the product lines of EV Traction Motors and Motor Control Units for hybrid and e-PVs, hybrid and e-LCVs, e-2Ws and e3Ws.
Currently, 28% of revenue comes from battery electric vehicles (BEV). Further, NSE:SONACOMS to invest INR 1,100-1,200 crore in capex for processing orders, expanding capacity for electric vehicle components by FY26.
[ b]Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
