Sandhar Technologies shares surge and hit fresh 52 week high following opening of new factory

Sandhar Technologies Ltd and its joint ventures are primarily engaged in the manufacturing and assembling of automotive components for the automotive industry in India. It has established itself as manufacturer of automobile accessories, safety locks, door hardware etc.    

Today it has reported that the company through its wholly owned subsidiary namely Sandhar Engineering Private Limited has successfully commissioned a state of art Manufacturing Plant at Mysore (Karnataka) and the trial runs are completed. Commercial production is underway and expected to go into mass production by the beginning of October 2023. The addition of this facility will strengthen and increase company’s share into sheet metal components in automotive sector for OEM’s and other customers and will provide a boost to the company’s growth prospects. 

Today the company has also announced their 31st Annual General Meeting scheduled to be held on Thursday, dated September 21, 2023 at 11:30 A.M. The Board has recommended a final dividend of Rs 2.50 per equity share of Rs 10 each fully paid up. The Company has fixed September 14, 2023 as record date for determining entitlement of members to dividend. 

Yesterday the script was closed at Rs 376.70. Today it was opened at Rs 391.10 and closed at Rs 389.90, up by 3.48%. Today it has hit fresh 52 week high at Rs 422 and it has 52 week low of Rs 186.10. So far 1,34,532 shares have exchange their hands on today over the counter at BSE. The BSE group ‘B’ stock has market capitalisation of around Rs 2,350 crore. In last 5 trading session value of company has increased by 9.42% and over the past 6 months shares of company has given staggering return of 78.66%.     

The promoters holding in the company stood at 70.38%, while Institutions and Non-Institutions held 18.61% and 11.01% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.