Sona Koyo Declines Investors Plan To Sell Stake
Shares of the auto parts maker fell as much as 8.9 percent, most in almost eight months, to Rs 89.4 which was the lowest level achieved in a little over nine months. An investor in Sona Koyo Steering Systems Ltd., JTEKT Corporation Ltd., has proposed to sell up to 35 lakh shares to retail and non-retail investors on both the exchanges, according to the company’s exchange filing.
The company is the second smallest amongst its Bloomberg peers with a market cap of around Rs 1,821 crores. Trading volume was 27.3 times the 20-day average. The stock has given negative returns of 15.7 percent so far this year.
