Sansera Engineering Soars 510% in Five Years After Goldman Sachs Upgrade

Sansera Engineering, an auto components manufacturer, is celebrating five years as a public company. On September 24th, it will mark this milestone, and over the past five years, its stock has seen remarkable growth of 510% from its issue price.

The stock had listed at a 9% premium to its issue price of ₹744 apiece in 2018, and since then, it has gained significantly. On Tuesday, September 22nd, shares of Sansera Engineering rose as much as 6%, following an upgrade by Goldman Sachs. The brokerage firm maintained its 'buy' rating on the stock and raised its price target to ₹4,990 from ₹4,500 earlier.

Goldman Sachs highlighted that Applied Materials and LAM Research's investments in India will have a positive impact on Sansera Engineering's business. Both companies announced plans to invest $5 billion and $1.2 billion respectively to develop their local supplier ecosystems and expand their R&D presence in the country during the recent SEMICON event.

Sansera Engineering also recently secured a large semiconductor order win worth $180 million from an existing customer, leading Goldman Sachs to increase its financial year 2029 earnings estimates partially.