Shares of Sona BLW Precision Forgings (also known as Sona Comstar) took a sharp hit on Friday, falling nearly 8% during intraday trading. The unexpected loss came just a day after the company’s chairman, Sunjay Kapur, passed away suddenly in the UK.
A Leader Gone Too Soon
Sunjay Kapur, 53, died on Thursday following what reports suggest was a tragic accident after a polo match in Windsor, England. According to some sources, the cause of death may have involved a severe allergic reaction. His passing came as a complete shock, not just to the company but also to India’s business and social circles.
Kapur wasn’t just a corporate executive; he was a well-known figure in the global auto and mobility tech space, and also active in high society. He was once married to Bollywood actor Karisma Kapoor and had friendships with international figures, including British royalty.
Market Reacts Swiftly
The news of his death sent immediate ripples through the stock market. Sona Comstar’s stock dropped as much as 8.4% on the NSE, briefly touching ₹467.95 before recovering slightly to close around ₹501. On the BSE, the fall was just as steep, with prices hitting an intraday low of ₹500.45.
The decline highlights how heavily investors had pinned their confidence on Kapur’s leadership. Although the company has stated that operations will continue as planned, the sudden leadership vacuum has clearly rattled the market.
A Visionary Behind Sona Comstar’s Global Push
Under Kapur’s guidance, Sona BLW transformed from a domestic auto components company into a global player in EV and mobility technology. His strategic vision was a big reason why the company became a key supplier for both traditional automakers and electric vehicle startups around the world.
He also played key roles beyond Sona Comstar, serving on the board of Jindal Steel & Power and actively contributing to the Confederation of Indian Industry. He had a reputation for being both ambitious and approachable—someone who balanced sharp business sense with genuine warmth.
Unanswered Questions Around Succession
For now, the company hasn’t announced a clear succession plan. That lack of clarity, combined with Kapur’s strong personal influence on the business, has left investors unsure about what comes next.
Despite this uncertainty, the company has issued a statement aiming to reassure stakeholders, saying it remains “committed to upholding his legacy” and that day-to-day operations and future plans remain intact.
Other Factors Adding Pressure
It wasn’t just the chairman’s passing that pulled the stock down. Broader market sentiment has been shaky due to rising tensions in the Middle East, particularly between Israel and Iran. That added to investor nervousness, especially in companies like Sona Comstar, which are linked closely to the international automotive supply chain.
Financial Snapshot
Even with the recent dip, Sona Comstar had shown steady performance in recent quarters. In the January–March period, the company posted a 10% rise in net profit year-over-year, although revenue slipped slightly by 2%. The company remains a key player in the EV segment, which now contributes over one-third of its total revenue.
Still, with the stock down about 14% year-to-date and now trading around 35% below its 52-week high of ₹767.80, the market seems to be entering a wait-and-watch mode.
Why This Matters
The loss of a leader like Sunjay Kapur goes beyond just numbers on a screen. He was the face of a growing Indian multinational, and his absence will be felt in boardrooms and beyond. Whether the company can maintain its momentum without him will depend heavily on the leadership that emerges in the coming weeks.
