Auto component plans lift Sakthi Sugars 9%

Rumours that Coimbatore-based Sakthi Sugars has some ambitious plans lined up for its auto component business (housed under a fully-owned subsidiary, Sakthi Auto Components), have resulted in the shares of Sakthi Sugars gaining close to 9% over the past week on BSE.

The stock, which ended at Rs 71 (up 1%) on BSE on Friday, has gained over 14% in the past couple of weeks. The buzz on D-Street is that the company, which has a thriving sugar business, may be looking at an overseas acquisition (mostly in Europe) in a bid to strengthen its footprint in the auto business.