Sansera up 2% on inking MoU for acquisition of 55 acres of industrial land

Sansera stock gains: Shares of Sansera Engineering (Sansera) rallied as much as 1.96 per cent to hit an intraday high of Rs 1,445.05 per share. 

The uptick in the stock price came after the company announced that it has signed a memorandum of understanding (MoU) with Karnataka Udyog Mitra for acquisition of 55 acres of industrial land at Harohalli, Bengaluru.

In an exchange filing, Sansera Engineering said, “Entered into a Memorandum of Understanding with Karnataka Udyog Mitra, Directorate of Industries & Commerce, Government of Karnataka for the acquisition of 55 acres of industrial land at Harohalli, Ramanagra, Bengaluru.”

The strategic move is part of Sansera’s long-term growth and expansion plans in the region for both automotive and non-automotive sectors, the company said.

 

The company will invest approximately Rs 2100 crore over a period of the next 3-5 years. This will also lead to a potential creation of approximately 3,000-4,000 direct and indirect jobs in the region, Sansera Engineering added.

The company also highlighted other benefits of this acquisition, which include increased exports, additional revenue for Karnataka; skill development; technology transfer; and CSR Initiatives.

“This MoU marks a significant milestone in our company's growth trajectory. We are excited about the opportunities this expansion brings and are grateful for the support extended by the Government of Karnataka. This initiative aligns perfectly with our vision of World -Class engineering corporation that maximises stakeholder’s value,” said S Sekhar Vasan, chairman & managing director of Sansera.

Sansera Engineering Limited was established in 1981 and is among the leading integrated manufacturers specialising in complex and critical precision-engineered components. We operate across both automotive and non-automotive sectors. 

In the automotive sector, its expertise lies in producing a diverse range of precision-forged and machined components and assemblies. These include connecting rods, rocker arms, crankshafts, gear shifter forks, stem components, and aluminium forged parts. These components are essential for the engine, transmission, suspension, braking, and chassis systems in two-wheelers, passenger vehicles, and commercial vehicles.

In the non-automotive sector, the company provides high-precision components for aerospace, off-road, agriculture, and other industries, including engineering and capital goods.

At 9:47 AM, shares of the company were trading 1.60 per cent higher at Rs 1,439.90 per share. In comparison, BSE Sensex was trading 0.31 pe recent higher at 81,992.92 levels.