SONACOMS

Adds charts, gives more details in paragraph 4 and paragraph 6 onwards

By Vivek Kumar M

Aug 8 (Reuters) - MSCI will add four Indian stocks, including retailer Vishal Mega Mart VSSL.NS and online delivery platform Swiggy SWIG.NS, to its flagship MSCI Global Standard index .MIEF00000PUS, setting them up for potential total inflows of $1 billion.

Hitachi Energy India HITN.NS and Waaree Energies WAAN.NS will be the other two additions to the index, while Sona BLW SONB.NS and Thermax THMX.NS will be dropped, the index provider said in a statement dated August 7.

The changes will take place as of the close of August 26, MSCI said.

Swiggy is expected to get inflows worth up to $289 million, while Vishal Mega Mart can get $258 million in passive fund flows as a result of the addition, IIFL Alternate Desk said. They added that Hitachi Energy is likely to draw $230 million of inflows, and Waaree Energies $233 million.

All the six shares were trading lower on the day in a weak market. Meanwhile, information technology company Coforge COFO.NS was down 4%, among top 3 midcap .NIFMDCP100 losers, as it failed to make it to the MSCI Global Standard index.

MSCI's indexes are used by investors globally, with about $16.9 trillion of assets under management benchmarked to their equity indexes.

The index provider will reduce Swiggy rival Eternal's ETEA.NS weight in the flagship index, leading to outflows of up to $607 million, as per IIFL Alternate Desk.

Eternal's weight was expected to be lowered amid its proposal to convert to Indian owned and controlled company (IOCC), capping foreign ownership to 49.5%.

Apart from Eternal, three other Indian stocks - Asian Paints ASPN.NS, Jindal Steel JNSP.NS and Havells India HVEL.NS will see weight cuts, while CG Power and Industrial Solutions' CGPO.NS weight will be increased.

The index provider also announced the addition of 15 Indian stocks and removal of six from its Global Smallcap index.

(Reporting by Vivek Kumar M; Editing by Ronojoy Mazumdar)

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** Indian auto parts makers drop 1%-2%; Tata Motors TAMO.NS down 2%

** U.S. announces additional 25% tariff on Indian goods over its Russian oil purchases, taking total tariffs to 50%

** U.S. reliant parts makers Sona BLW SONB.NS and Bharat Forge BFRG.NS decline as much as 2% and 3%, respectively

** Other parts makers Samvardhana Motherson SAMD.NS and tyre maker Balkrishna Industries BLKI.NS down 1.6% and 0.2%, respectively

** TAMO, whose luxury unit Jaguar Land Rover gets one-fourth of sales from U.S., also falls 2%

** Autos index .NIFTYAUTO down 0.6% with 11 out of 15 constituents trading in red

** An auto dealers body also flagged anticipated wealth erosion from fresh tariffs by the U.S. which can exert pressure on discretionary spending, including on vehicles

(Reporting by Kashish Tandon in Bengaluru)

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Updates

** MSCI likely to add India's Vishal Mega Mart VSSL.NS, Swiggy SWIG.NS, Hitachi Energy HITN.NS and Waaree Energies WAAN.NS to its standard index as part of August rejig, says Nuvama

** Believes Sona BLW SONB.NS and Thermax THMX.NS could be dropped from index

** Nuvama expects MSCI to add 12 Indian firms to its smallcap index, while removing four

** Index provider scheduled to announce quarterly index review on August 8, changes to take effect on August 26

** SWIG down 2.4% and VSSL up 2.3% on day

(Reporting by Vivek Kumar M)

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July 28 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS - RANI KAPUR HAS NO ROLE IN SONA COMSTAR SINCE 2019

Source text: ID:nBSE23TBKY

Further company coverage: SONB.NS

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July 25 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS - GOT EMAIL FROM RANI KAPUR REQUESTING AGM DEFERMENT

• SONA BLW PRECISION FORGINGS LTD - COMPANY CONCLUDES AGM CANNOT BE DEFERRED

• SONA BLW PRECISION FORGINGS - AGM CONDUCTED ON SCHEDULE IN COMPLIANCE

• SONA BLW PRECISION FORGINGS - CONFIRMS THAT NO DOCUMENTS HAVE BEEN SIGNED OR OBTAINED FROM RANI KAPUR

Source text: ID:nNSEbR4zxR

Further company coverage: SONB.NS

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** Shares of Sona BLW Precision Forgings SONB.NS rise as much as 3.5% to 496.56 rupees, a one-month high; last up 2.3%

** Auto components maker announces strategic entry into the China electric vehicles market, establishing a joint venture with Jinnaite Machinery to build driveline systems and components for auto makers in China

** SONB says it will invest $12 million in JV

** Investec calls China entry "a step in the right direction," expects 4%–5% incremental sales

** JM Financial sees 16.7 billion rupee addressable market, maintains "buy" rating on growth prospects

** Average rating of 16 analysts tracking SONB is "buy"; median price target is 546 rupees -- data compiled by LSEG

** SONB shares down 19.3% in 2025, underperforming the 3.4% rise in mid-cap index .NIFMDCP100

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Sona BLW Precision Forgings Ltd SONB.NS jump 6.1% to 482.90 rupees, top gainer among auto stocks .NIFTYAUTO today

** Move trims the EV parts maker's stock's YTD loss to 19%, still making it the biggest loser on Nifty Auto index

** CNBC-TV18 reported on Thursday that SONB is in advanced talks with China's BYD 002594.SZ to supply EV components

** If deal goes through, SONB could set up local plant in China, report says, citing sources

** SONB told Reuters it has no developments to report, while BYD did not immediately respond to Reuters' request for comment

** Around 19.3 mln shares traded hands in stock's most active day since late October, 7.7x the 30-day avg volume

** Analysts tracking stock rate it "buy" on avg; median PT is 551.14 rupees - data compiled by LSEG

(Reporting by Nandan Mandayam in Bengaluru)

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June 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - COMSTAR APPOINTS JEFFREY MARK OVERLY AS CHAIRPERSON

Source text: ID:nBSE9cgyld

Further company coverage: SONB.NS

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** Shares of Sona BLW Precision Forgings SONB.NS fall 2.9% to 496 rupees, lowest in over a month

** Auto-parts maker says its chairman, Sunjay Kapur passed away on Thursday

** Co says its operations and prospects remain unchanged

** Avg rating on stock is "buy;" median PT is 551.14 rupees - data compiled by LSEG

** Stock down 14% YTD

(Reporting by Aleef Jahan in Bengaluru)

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April 30 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - DIVIDEND OF 1.6 RUPEES PER SHARE

• SONA BLW PRECISION FORGINGS MARCH-QUARTER CONSOL NET PROFIT 1.64 BILLION RUPEES

• SONA BLW PRECISION FORGINGS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 8.65 BILLION RUPEES

Source text: ID:nBSE8nWbM

Further company coverage: SONB.NS

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Corrects to add dropped word "run" in headline

** Indian auto stocks climb 3.9% this week, set to snap 3-week losing run

** U.S. President Donald Trump said on Monday he was considering tariff exemptions for auto-related imports that drew a 25% levy

** Nifty Auto .NIFTYAUTO index dropped 5.6% over the last 3 weeks since Trump's administration announced tariff on all automobiles and auto parts imports into the country

** India's top auto parts maker Samvardhana Motherson SAMD.NS biggest weekly gainer, followed by tyre maker Balkrishna Industries' BLKI.NS 7.6% climb

** Other U.S.-reliant suppliers Bharat Forge BFRG.NS and Sona BLW SONB.NS gain 6.6% and 4.7% respectively

** Tata Motors TAMO.NS, whose luxury unit Jaguar Land Rover gets one-fourth of sales from U.S., gains 4.9%

** Most stocks on 15-member index rated "buy" on avg - data compiled by LSEG

** NIFTYAUTO trims losses since Trump announced the auto tariff plan on March 26 to 1.5%

(Reporting by Nandan Mandayam in Bengaluru)

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April 15 (Reuters) - India's auto shares jumped 3% on Tuesday, led by gains in auto parts makers after U.S. President Donald Trump suggested he might grant exemptions on auto-related import tariffs.

Shares of India's biggest component maker by market capitalisation, Samvardhana Motherson SAMD.NS, jumped 7%, while other U.S.-reliant parts makers Bharat Forge BFRG.NS and Sona BLW SONB.NS rose over 6% each.

Tata Motors, whose luxury unit Jaguar Land Rover (JLR), gets about a quarter of its sales from the U.S., rose 5% on the day.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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** Analysts at Nomura believe the pause in U.S. reciprocal tariffs and escalating trade war between the U.S. and China can benefit Indian auto ancillary companies

** This supply chain restructuring can lead to strong gains for players such as Sona BLW SONB.NS, Sansera Engineering SASE.NS, Bharat Forge BFRG.NS and Samvardhana Motherson SAMD.NS - Nomura

** The shares climb 4%, 4.8%, 1.4% and 3%, respectively

** U.S. President Donald Trump on Wednesday temporarily paused reciprocal tariffs beyond 10% on most countries except China

** However, fully built imported autos will continue to have 25% duty while auto parts will be subject to 25% duty from May 3

** Brokerage sees lower interest rates, lower income taxes, potential cuts in oil prices to limit the downside risks in the auto ancillary space

** Since Trump's announcement of tariffs on April 2, SONB has fallen 12.5%, SASE has lost 14.5%, BFRG down 15.9% and SAMD has declined 14.5%, as of Wednesday's close

(Reporting by Ashish Chandra in Bengaluru)

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** Tata Motors TAMO.NS will be disproportionately affected by 25% U.S. tariff on auto and auto parts imports, according to Investec

** Says North America (NA), accounting for 33% of TAMO's volumes, was the only growth market for Jaguar Land Rover in FY25

** Adds "hefty" 25% tariff substantial enough to dent JLR demand; operating profit likely to fall 2% CAGR over FY25-27

** Says auto components maker Sona BLW SONB.NS, earning 43% rev from NA, to be impacted even as its "limited local supply chain exposure" makes it less vulnerable

** Expects Samvardhana Motherson SAMD.NS to be least impacted

** Lowers earnings estimates for TAMO and SONB

** YTD, TAMO down 9%, SONB drops 22.5% and SAMD sheds 16%

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of India's auto parts suppliers to Tesla TSLA.O drop between 4.5% and 7.6% after U.S. President Donald Trump unveiled 25% tariff on all car and auto parts imports

** Sona BLW SONB.NS, Tesla's biggest India supplier, down as much as 6.8%

** Samvardhana Motherson SAMD.NS and Bharat Forge BFRG.NS fall as much as 7.6% and 4.5%, respectively

** Tariffs on car imports are set to take effect from April 2, while those on parts from May 3

** Auto component companies have significant global exposure in the range of 30%-80% of their revenues and change in U.S. tariffs is a risk for them - J.P.Morgan

** SAMD, SONB rated "buy" on avg, BFRG rated "hold" - data compiled by LSEG

** Year-to-date, SAMD, SONB and BFRG down ~14%, ~17% and ~9%, respectively

(Reporting by Manvi Pant in Bengaluru)

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Feb 10 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• APPROVES AMENDMENT TO BTA WITH ESCORTS KUBOTA FOR RED ACQUISITION

• APPROVES PURCHASE OF 33,423 SQ YARDS LAND FROM ESCORTS KUBOTA

• LAND PURCHASE FOR 1.10 BILLION RUPEES IN FARIDABAD

Source text: ID:nNSE6r01y9

Further company coverage: SONB.NS

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Jan 29 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - SONA COMSTAR SIGNS MOU WITH THE EPLANE CO

• SONA BLW PRECISION FORGINGS LTD - MOU TO DEVELOP POWERTRAIN FOR EVTOLS AND DRONES

Source text: ID:nBSE9tSlc9

Further company coverage: SONB.NS

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Jan 10 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SIGNS MOU WITH TIHAN-IITH

Source text: ID:nBSE5pFjJS

Further company coverage: SONB.NS

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By Aditi Shah

NEW DELHI, Dec 12 (Reuters) - Indian auto component maker Sona Comstar, supplier to companies such as Ford F.N and Stellantis STLAM.MI, is in talks with carmakers in China, Japan and South Korea as it looks to expand beyond its main markets of North America and Europe.

In an interview, Group CEO Vivek Vikram Singh said Sona Comstar SONB.NS was in "active discussions" with automakers in these regions to supply components for electric and hybrid cars, as well as internal combustion engine vehicles.

He did not identify the carmakers, but said he expected the Eastern countries to contribute more than half of company revenues in five years, compared with a 66% share now for Europe and North America, while India makes up 28%.

"Growth through market share gains alone is no longer enough," Singh told Reuters, adding that the company needed to pivot to new markets.

Although the Eastern region, including India, makes up nearly half the global car market, Sona now has a relatively small share, he said.

Light vehicle sales in North America and Europe are expected to shrink to 34 million units this year from 37 million in 2015, Singh said.

In China, by contrast, sales of EVs, plug-in hybrids and extended-range vehicles have risen 50% in 2024 on the year to account for more than half the 20 million cars sold.

As car sales in the United States and Europe stagnate and carmakers' electrification plans slow, Singh said the company was looking to invest in mobility businesses beyond automobiles as well as new technologies to grow over the next decade.

"In the last nine years, we have grown over nine times by focusing on electrification, expanding our market share in North America and Europe and introducing new products," Singh added.

"To multiply our current size ninefold again, we need new approaches."

With a market valuation of more than $4.7 billion, Sona Comstar is best known for making differential gears that enable vehicle wheels to spin at different speeds, along with starter motors for certain hybrids.

It has a net order book of $2.7 billion, close to 80% of which is made up of EV components.

In it diversification push, Sona Comstar acquired Escorts Kubota's ESCO.NS railway equipment business this year and is separately also investing in companies that make sensors and telematics.

(Reporting by Aditi Shah; Editing by Clarence Fernandez)

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Oct 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS SEPT-QUARTER CONSOL NET PROFIT 1.44 BILLION RUPEES

• SONA BLW PRECISION FORGINGS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 9.22 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SONB.NS

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Oct 21 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• INAUGURATION AND COMMENCEMENT OF PRODUCTION IN NEW MANESAR PLANT

Source text for Eikon: ID:nNSEcdp1VX

Further company coverage: SONB.NS

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Sept 4 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• GETS GOVERNMENT INCENTIVE CERTIFICATION FOR HUB WHEEL MOTOR FOR ELECTRIC TWO WHEELERS

Source text for Eikon: ID:nBSEc4HQSl

Further company coverage: SONB.NS

(Reporting by VijayDattaram Malkar)

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** Shares of automotive component maker Sona BLW Precision Forgings SONB.NS up 2.2% at 655.25 rupees after rising as much as 3.6%

** SONB receives certification for its traction motor for electric three-wheelers under production-linked incentive (PLI) scheme from ministry of heavy industries

** Trading vol at 0.5x the 30-day daily avg as at 9.50am IST

** Avg rating of 17 analysts equivalent of "buy", median PT is 705 rupees - LSEG data

** Stock up 1.6% YTD

** Stock down 7.2% so far this quarter, on track to snap four straight quarterly gains

(Reporting by Ashish Chandra in Bengaluru)

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June 18 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS - CERTIFICATION FOR ITS TRACTION MOTOR FOR ELECTRIC 3-WHEELERS UNDER PRODUCTION-LINKED INCENTIVE SCHEME

Source text for Eikon: ID:nBSE4JQpX5

Further company coverage: SONB.NS

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Corrects in third paragraph to reflect China exposure of Blackstone’s Asia-focused private equity funds. The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, April 8 (Reuters Breakingviews) - Blackstone’s BX.N nearly two-decade-long punt on India is paying off in two ways. The U.S. buyout firm is preparing to float more businesses in the country’s buoyant capital markets, including an Antwerp-based diamond certification firm at up to 6 times the value it paid for it last year, according to Reuters. Its strategy to go heavy on the South Asian country once looked lucrative but quirky. Now others are rushing to emulate it.

Private equity firms around the world are sitting on $3 trillion of unsold, ageing investments and a freeze in initial public offerings makes it hard to return money to investors. These problems are particularly pronounced in Asia, where many regional funds including PAG and Carlyle CG.O put a big focus on China – a market U.S. investors are now cutting allocations to at steep discounts.

Blackstone has a partial shield against that problem. It has a single digit percentage of its Asia-focused private equity funds deployed in the People’s Republic. It’s less exposed to the pullback of capital from the world’s second largest economy and to Beijing’s attempt to prop up its battered stocks, including by blocking big IPOs like Syngenta.

By contrast, India is Blackstone’s third biggest market globally by equity investments after the U.S. and UK. Its Asia head of private equity, Amit Dixit, is based in Mumbai, and he’s doubling down where the firm has generated its best private equity returns globally.

What’s more, it looks easier than ever to exit investments in the country. Some $7.4 billion was raised through primary issues in India in the year to March, 19% higher than in the previous 12-month period, according to Prime Database. Recent Blackstone exits include Embassy Office Parks REIT EMBA.NS and automotive component maker Sona BLW Precision SONB.NS.

Overall exits in the country by private equity and venture capital investors in 2023 hit a record volume of 303 and were valued at $24.8 billion, half via open-market deals, according to EY and the Indian Private Equity & Venture Capital Association. Next up, Blackstone is looking to sell shares worth $950 million in the International Gemological Institute, which has most of its business in India, and mortgage financier Aadhar Housing Finance.

Asian funds trying to raise capital are busy assuring investors that they won’t deploy more than 20% of the pot into China. They are also trying to convince investors that they can spend money in alternative markets as effectively as firms like Blackstone that ramped up much earlier. India’s market isn’t perfect, but at least it is open for business.

Follow @ShritamaBose on X

CONTEXT NEWS

Blackstone is exploring raising $300 million via an initial public offering in India of the International Gemological Institute (IGI), less than a year after it acquired the company, Reuters reported on April 2, citing three unnamed people familiar with the matter. The company is targeting a valuation of up to $3.5 billion, according to two of the sources.

The U.S. private equity giant is also targeting an up to $650 million IPO for Indian home loans provider Aadhar Housing Finance at a valuation of up to $3 billion, Reuters reported on Jan. 30, citing two unnamed sources with direct knowledge.

(Editing by Una Galani and Katrina Hamlin)

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Feb 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SIGNS DEFINITVE DOCUMENTS WITH CLEANMAX FOR CAPTIVE SOLAR POWER PLANT IN MAHARASTHRA

Source text for Eikon: ID:nBSE2fk5kw

Further company coverage: SONB.NS

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Feb 22 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - SONA COMSTAR RECEIVED PLI CERTIFICATE FOR TRACTION MOTOR FOR ELECTRIC TWO-WHEELERS

Source text for Eikon: ID:nBSE8HZyw5

Further company coverage: SONB.NS

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** Shares of Sona BLW Precision Forgings SONB.NS up as much as 3.3% to 599 rupees

** Precision forged gears maker reported a 23.9% Y/Y rise in its Q3 net profit to 1.33 bln rupees ($16 million), rev from ops rose 15.8%

** Co declared an interim dividend of 1.53 rupees per share

** Stock has been trading above its 200-day moving avg since April 28, 2023

** Stock was up for the third straight quarter in the Dec quarter

** Avg rating of 15 analysts close to equivalent of "buy"; median PT is 665 rupees - LSEG

($1 = 83.1190 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Jan 23 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• DIVIDEND OF 1.53 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 1.33 BILLION RUPEES VERSUS PROFIT 1.07 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.82 BILLION RUPEES VERSUS 6.75 BILLION RUPEES

Source text for Eikon: ID:nBSEblzWGG

Further company coverage: SONB.NS

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Nov 27 (Reuters) - Sona BLW Precision Forgings Ltd SONB.NS:

• SONA BLW PRECISION FORGINGS LTD - EXECUTED LETTER OF INTENTS WITH CLEANMAX ENVIRO ENERGY SOLUTIONS

• SONA BLW PRECISION FORGINGS - LOI FOR SETTING UP CAPTIVE GENERATING PLANT IN HARYANA, MAHARASHTRA

Source text for Eikon: ID:nBSEcgv688

Further company coverage: SONB.NS

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