Sona BLW Share Price: Auto Comp Stock Zooms After Management Rejig, Honours Late Sunjay Kapur As Chairman Emeritus

Shares of Sona BLW Precision Forgings Ltd (Sona Comstar) went up on Tuesday after the company announced a key management reshuffle, a move that appears to have reassured investors following recent uncertainty at the top.

The stock rose nearly 1.45% in early trade, climbing to around Rs 484.35 on the NSE, compared to Monday’s close of Rs 477.35. The uptick comes after the named Jeffrey Mark Overly as its new chairman, following the untimely demise of Sunjay Kapur earlier this month.

Overly, a veteran of the global auto components industry with more than four decades of experience, has been an independent director on Sona BLW’s board since February 2021. His elevation to the chairman's role is seen as a continuity move by the company, aimed at maintaining strategic stability.

“The Board of Directors of the Company appointed Jeffrey Mark Overly, as the Chairperson of the Board of Directors of the Company. Jeffrey Mark Overly, is an Independent Director of the Company, since 12th February, 2021 and his re-appointment as the Independent Director is approved by the Board in their meeting held on 30th April, 2025, for the second term of 5 consecutive years, i.e. till 11th February, 2031, which is subject to approval of shareholder in the ensuing AGM of the Company, the company said in its filing to BSE. 

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Notably, the board has also honoured Kapur posthumously by designating him Chairman Emeritus, acknowledging his pivotal role in steering the company’s growth over the years.

Sona BLW's management also maintained that the company’s operations remain unaffected by the leadership change. Vivek Vikram Singh, who has been serving as Managing Director and CEO since 2019, will continue to lead the day-to-day operations.

In a statement, the company noted that “the board has full confidence in the current management team, and no changes are envisaged in the leadership structure.” This assurance appears to have buoyed investor sentiment, which had taken a hit earlier this month when the news of Kapur’s passing first emerged.

Furthermore, the Board of Directors, on the recommendation of the Nomination and Remuneration Committee (NRC), has approved the appointment of Priya Sachdev Kapur , as an Additional Non-Executive Director of the Company, w.e.f. 23rd June, 2025, subject to approval of the shareholders of the Company.