Sona BLW Precision shares rise; what's next for the stock?

Shares of Sona BLW Precision Forgings Ltd (erstwhile Sona Comstar) were trading slightly higher in Friday's session. Last checked, it was up 0.37 per cent at Rs 480.05. 

The company recently announced the demise of its Chairman and Non-Executive Director, Sunjay Kapur, in England, United Kingdom. "The Board of Directors regrets the untimely demise of Mr. Sunjay Kapur, the erstwhile Chairman of Sona Comstar and expresses its condolences to Mr. Kapur's family. His vision, values, and dedication to excellence will continue to guide and inspire the governance and performance of the Company," it stated in a BSE filing.

"The Board of Directors of the Company has had in place a professional management team under the leadership of its Managing Director and CEO, Mr. Vivek Vikram Singh, since 2019. We have full faith in the management team's ability to lead the Company under the supervision of the Board," Sona BLW added.

"The Board of Directors of the Company will meet in due course to elect a new chairman of the Board," it further stated.

Some market experts believe the stock appears weak at the moment, with support likely in the Rs 467–468 range. On the higher end, a close above Rs 510 can trigger more upside.

Mayuresh Joshi, Head-Equity Research at William O'Neil India, in an interaction with Business Today, advised adopting a wait-and-watch stance for now, noting, "The global automobile industry is currently going through a rough patch. It's uncertain how the numbers will play out. While demand is expected to return eventually, the timing remains unclear."

According to Sebi-registered independent research analyst AR Ramachandran, "Sona BLW stock price is bearish on daily charts with strong resistance at Rs 504. A close below support of Rs 467 could lead to a downside target of Rs 430 in the near term."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi noted that support on the counter will be at Rs 468 and resistance Rs 510. "A decisive move above Rs 510 level may trigger a further upside towards Rs 530. The expected trading range will be between Rs 460 and Rs 530 for the short term," Patel also stated.

As of March 2025, promoters held a 28.02 per cent stake in the company.