Shares of Sansera Engineering recovered from a three-day losing streak and rose over 5 percent on Monday after the company announced bagging an order worth Rs 50 crore from a North American electric passenger car manufacturer.
Shares of the Sansera Engineering closed at Rs 729, going 7.5 percent up from the previous close on the BSE.
The order is for three components that are precision forged and machined components for the passenger vehicles. The management said that winning the order is expected to help the company expand its product portfolio in the electric vehicle space and also contribute to the growth of its technology-agnostic products.
The company had also won another order worth Rs 49 crore, from the same client earlier. With these two, the annual order book of the company with this customer has crossed Rs 100 crore.
"I am very delighted to announce receipt of these orders for precision forged and machined components for PVs. This is a strategic win for us, helping us in our product portfolio expansion in the EV space. Given that it is a repeat order from such a marquee player in the EV space, demonstrates enhancement of our comprehensive capabilities in this segment," said, B R Preetham, Group CEO, Sansera Engineering.
Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.
(Edited by : Nishtha Pandey)
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