Rs 1,593 crore order book & Rs 2,100 crore investment: Auto engineering company entered into MoU with the Government of Karnataka
The stock is up by 75 per cent from its 52-week low of Rs 820.20 per share.
Sansera Engineering Limited has secured a significant 55-acre land parcel in Harohalli, Ramanagara, Bengaluru, for its expansion plans. The company has entered into a Memorandum of Understanding (MoU) with the Government of Karnataka to acquire this industrial land. This strategic move aims to bolster Sansera's presence in both automotive and non-automotive sectors within the region. As part of this acquisition, Sansera commits to investing approximately Rs 2,100 crore over the next 3 to 5 years, which is expected to generate between 3,000 and 4,000 direct and indirect job opportunities in the area.
The new facility is poised to drive substantial growth for Sansera and benefit the state of Karnataka. With an estimated manufacturing capacity increase of Rs 3,000 crore, the company expects to significantly boost India's exports. Additionally, the project will contribute to the state's revenue. Sansera's commitment to skill development is evident through its plans to establish a training centre, thereby enhancing the capabilities of the local workforce. The company will also introduce advanced technologies and best practices, fostering a robust industrial ecosystem. Furthermore, Sansera has pledged to support local community development through Corporate Social Responsibility (CSR) initiatives focused on education and healthcare.
Order Book Update: As of March 31, 2024, the company’s order book stands at Rs 1,593 crore.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
On Friday, shares of Sansera Engineering Ltd plunged 0.04 per cent to Rs 1,438.55 per share with an intraday high of Rs 1,454.45 and an intraday low of Rs 1,439.50. The stock also traded at a new 52-week high of Rs 1,454.45 per share while its 52-week low is Rs 820.60 per share.
Sansera Engineering Ltd manufactures iron and steel forging products. The company produces and distributes rocker arms, gear shifter forks, shafts, and crankshaft assemblies for the automotive and aerospace industries. The company has a market cap of over Rs 7,700 crore. The stock is up by 75 per cent from its 52-week low of Rs 820.20 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: 5:1 stock split after 23 years announced by this LIC-backed Pharma Giant; Stock trades at high ROE & high ROCE