Sona Group Buys Out Mitsubishi Arm’s Stake In Precision Forging Business
Gurgaon-based auto parts maker Sona Group will buy out Mitsubishi Materials Corp's 25 percent stake in its precision forging joint venture, said group chief executive officer Sunjay Kapur.
The deal comes a month after the group sold its 25.1 percent stake in its flagship company, Sona Koyo Steering Systems Ltd., to the Japanese partner JTEKT Corp. for over Rs 400 crore. The company has used the funds from the earlier deal to buy out Mitsubishi's stake in Sona BLW Precision Forgings, said Kapur.
The joint venture with Mitsubishi Materials was formed in 1995.
The company has seven manufacturing units across India, Germany, and Hungary, and Sona Group has plans to invest another Rs 300-400 crore over the next three-four years, Kapur said, adding that around Rs 100 crore had been earmarked for the next financial year.
It supplies components to global players like Volkswagen AG, Renault AG, BMW AG and Indian companies like Maruti Suzuki India Ltd., and Mahindra & Mahindra Ltd.
The precision forging company now wants to enter Indian railways and the defence vehicles space with Kapur calling it a “natural progression”. The Group has plans to supply components to Indian railways companies, and is also in talks with a few for the same, Kapur said, without giving further details.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
