Samvardhana Motherson International gains on signing MoU with MISA
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Samvardhana Motherson International is currently trading at Rs. 125.40, up by 0.45 points or 0.36% from its previous closing of Rs. 124.95 on the BSE.
The scrip opened at Rs. 125.50 and has touched a high and low of Rs. 128.05 and Rs. 125.30 respectively. So far 402224 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 206.08 on 14-Oct-2021 and a 52 week low of Rs. 112.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 132.10 and Rs. 122.45 respectively. The current market cap of the company is Rs. 56696.06 crore.
The promoters holding in the company stood at 68.16%, while Institutions and Non-Institutions held 19.99% and 11.86% respectively.
Samvardhana Motherson International (SAMIL) has signed Memorandum of Understanding (MoU) with Ministry of Investment, Kingdom of Saudi Arabia (MISA), which aims to identify investment development opportunities for industrial and service activities in the Kingdom of Saudi Arabia (KSA).
The MoU encourages joint cooperation by SAMIL and MISA in the development of automotive parts industry in the Kingdom of Saudi Arabia (KSA). Both partners will also explore the investment opportunities in other industrial sectors as well. Ministry of Investment, Kingdom of Saudi Arabia (MISA) is responsible for the investment affairs in Kingdom of Saudi Arabia. Under the scope of this MoU, MISA will provide necessary support to Motherson to identify potential areas of investments in the KSA.
Samvardhana Motherson International (formerly Motherson Sumi Systems) 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.
