Auto parts stock in news today on nod to raise Rs 1,200 crore

Shares of Sansera Engineering are in news on Wednesday after the auto component firm said its board has approved raising of funds of up to Rs 1,200 crore in one or more tranches. Sansera Engineering shares ended 0.23% higher at Rs 1494.60 on Tuesday against the previous close of Rs 1491.10 on BSE.
Market cap of the firm stood at Rs 8,070.59 crore.

A total of 5529 shares of the firm changed hands, amounting to a turnover of Rs 82.15 lakh on BSE.  

Sansera Engineering stock has a one-year beta of 0.8, indicating very low volatility during the period.  

Sansera Engineering shares have delivered returns of 62.52% in a a year. The stock rallied 104% in two years.

In terms of technicals, the relative strength index (RSI) of Sansera Engineering stands at 68.9, signaling it's trading neither in the overbought nor in the oversold zone. Sansera Engineering stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages.  

"Raising of funds of upto INR 1,200.00 crores (Rupees One thousand Two Hundred Crores Only) in one or more tranches by issue of equity shares and / or any other instruments or eligible securities representing either equity shares and / or convertible securities linked to equity shares or through any other permissible mode or/a combination thereof," said the firm

The board of the firm also made an additional investment of Rs 20 crore in MMRFIC Technology Private Limited (“MMRFIC”) in one or more tranches by way of CCPS.

Sansera Engg. is involved in the business of manufacture of auto components such as rocker arms, connecting rods, gear shifters, crank shafts, and aerospace components. It is also involved in providing services such as forging and other related services.