Sona BLW Share Price Slips To One-Month Low Post Chairman Sunjay Kapur's Demise

Shares of Sona BLW Precision Forgings Ltd. fell over 8% on Friday following the sudden death of Sunjay Kapur, the company’s Chairman and a prominent figure in India’s automotive industry. Kapur, aged 53, passed away in England due to a sudden heart attack during a polo match—a sport he was passionate about and actively participated in as owner and player of the Sona Polo team.

Sona BLW issued a statement expressing deep sorrow over the untimely loss. Kapur was also ex-husband of actress Karisma Kapoor. He had been instrumental in expanding Sona Comstar's footprint with manufacturing facilities across India, China, the US, Mexico, and Serbia.

He took over as managing director in 2015 after his father’s passing and later became Chairman. Kapur also served as President of the Automotive Component Manufacturers Association, playing a significant role in shaping the growth of India’s automotive component industry over the past decade. Sona Comstar is known for supplying critical automotive parts such as EV traction motors and starter motors.

The scrip fell as much as 8.40% to Rs 467.95 apiece, the highest level since April 29. It pared losses to trade 1.90% lower at Rs 501.15 apiece, as of 09:45 a.m. This compares to a 1.11% decline in the NSE Nifty 50.

It has fallen 16.14% on a year-to-date basis, and 23.12% in the last 12 months. The relative strength index was at 41.60.

Out of 19 analysts tracking the company, 12 maintain a 'buy' rating, four recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 8.6%.