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Bharat Forge, Sona Com & Sandhar Tech shares are on a roll. Here's why

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Shares of three Indian auto component suppliers - Bharat Forge, Sona Comstar, and Sandhar Technologies have gained during morning trade on Monday on the BSE after reports that Tesla Inc is in talks with them as part of its plans to enter the local market.

Bharat Forge, Sona Com & Sandhar Tech shares are on a roll. Here's why
Shares of three Indian auto component suppliers have gained during morning trade on Monday on the BSE after reports that Tesla Inc is in talks with them as part of its plans to enter the local market.
While Sona Comstar was up 5.29 percent, shares of Bharat Forge were up 5.14 percent and Sandhar Technologies were trading 11.62 percent higher on the bourses.
According to an Economic Times report citing people familiar with the matter, Tesla is seeking critical electrical, electronic and mechanical components including instrument panels, windshields, differential brakes, gears and power seats.
Sona, Sandhar and Bharat Forge are among the Indian companies already supplying components to Tesla.
Tesla CEO Elon Musk in July said that its electric vehicle (EV) company wants to launch cars in India, but the country's import duties on EVs are the highest in the world by far which is also not consistent with India's climate goals.
According to another ET report, Sona Comstar has also earmarked a capex of around Rs 600 crore for the current fiscal as it remains positive about sustaining its growth trends in the current fiscal and beyond.
At 10:40 am, Bharat Forge shares were trading 3.53 percent higher at Rs 755.15 while Sona Comstar shares were trading 5.97 percent up at Rs 502.35 and shares of Sandhar Technologies were trading 11.49 percent higher at Rs 289.25 apiece on the BSE outperforming the benchmark Sensex which was trading 1.06 percent up.
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