Shares of Sansera Engineering rose over 4.5% in a weak market, the most in six weeks to Rs 709 apiece.
The rise comes after the company bagged repeat order worth Rs 50.8 crore (annual) from a marquee North American manufacturer of EV passenger cars, the company said in an exchange filing before market hours on Monday. The order pertained to precision forged and machine components for passenger vehicles
Sansera Engineering said that the mass production of these parts will commence during FY2023-24, after successful trials. Sansera Engineering has already been awarded an order worth Rs 49.7 crore from the same customer. With this new order, the annual order book of Sansera Engineering with the customer rose above Rs 100 crore.
Trading volume on the stock is nearly quadruple the 30-day average. All the four analysts tracking the rocker arms, gear shifter forks, crank shaft assemblies’ maker for automotive and aerospace industries’ stock maintain ‘buy’. The return potential of the stock is 31.9%.
Source: Exchange Filing, Bloomberg