Sansera Engineering opened 3% lower today at Rs.748.10, slipping down further by over 8% to an intraday low at Rs.705.65.
The company announced yesterday that it has lost one order.
It said, “Regarding contract from a leading North American OEM for development, manufacturing and supply of connecting rods starting July 2025, we would like to inform you that basis recent review of business plan/ strategy, our customer has decided to drop this project, consequent to which, the contract awarded to us by the aforesaid OEM stands withdrawn.”
This order was first received in April’22 and was worth Rs.3066 crore. Naturally, cancellation of this order is a big blow and that markets are reacting accordingly.