Motherson Sumi Systems rises on acquiring majority stake in CIM Tools
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Motherson Sumi Systems is currently trading at Rs. 237.00, up by 0.95 points or 0.40% from its previous closing of Rs. 236.05 on the BSE.
The scrip opened at Rs. 240.00 and has touched a high and low of Rs. 245.30 and Rs. 232.00 respectively. So far 1252760 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 273.00 on 02-Jun-2021 and a 52 week low of Rs. 103.85 on 30-Oct-2020.
Last one week high and low of the scrip stood at Rs. 245.30 and Rs. 222.85 respectively. The current market cap of the company is Rs. 75174.62 crore.
The promoters holding in the company stood at 61.73%, while Institutions and Non-Institutions held 29.88% and 8.39% respectively.
Motherson Sumi Systems (MSSL) has completed the acquisition of a majority stake in CIM Tools, one of the leading suppliers in the aerospace supply chain, based in Bengaluru, India. This milestone acquisition will mark MSSL’s entry into the aerospace industry.
MSSL will acquire 55% stake from the promoters of CIM Tools (CIM). CIM in turn will hold 83% in Aero Treatment (ATPL) and currently holds 49.99% in Lauak CIM Aerospace (JV with Lauak International, LCA). CIM, ATPL and LCA are hereinafter referred to as “CIM Group”.
Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.
