What to watch. New foray may boost Sundram Fasteners

Shares of Sundram Fasteners may remain in focus, as it plans to set up a new factory at Sri City, Andhra Pradesh, eyeing to expand its non-auto business. The proposed factory will manufacture high precision engineering components (off-road) and help the company’s foray into the non-auto segment. Besides, the company is getting ready to tap the opportunity arising from the new Defence Procurement Policy. The company will focus on aerospace and defence segments.