Sona Koyo Steering Systems galloped 5.02% to Rs 15.70 at 11.24 IST on BSE on reports the company plans to diversify into aerospace and windmill technology.
The stock hit a high of Rs 15.95 and a low of Rs 15 so far during the day. The stock has a 52-week high of Rs 37 on 31 December 2007 and a 52-week low of Rs 12.38 on 18 July 2008.
The company’s current equity is Rs 19.87. Face value per share is Re 1.
Reports indicated that rising input costs and automotive sector slowdown influenced Sona Koyo Steering Systems to diversify in new businesses.
Sona Koyo Steering Systems reported a net loss of Rs 1.64 crore in Q1 June 2008 as against net profit of Rs 7.98 crore in Q1 June 2007.
The company is engaged in manufacturing and marketing auto components for four wheelers. It operates in steering gear assembly, axle assembly, sale of spares, rack and pinion assembly and column and UJ assembly.
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