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Samvardhana Motherson International moves up on acquiring 100% stake in Rollon Hydraulics
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Samvardhana Motherson International is currently trading at Rs. 99.06, up by 0.70 points or 0.71% from its previous closing of Rs. 98.36 on the BSE.
The scrip opened at Rs. 98.36 and has touched a high and low of Rs. 99.40 and Rs. 98.01 respectively. So far 80485 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 100.80 on 28-Jul-2023 and a 52 week low of Rs. 61.84 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 100.80 and Rs. 95.83 respectively. The current market cap of the company is Rs. 66652.88 crore.
The promoters holding in the company stood at 64.77%, while Institutions and Non-Institutions held 26.02% and 9.22% respectively.
Samvardhana Motherson International (SAMIL) has completed acquisition of 100% stake in Rollon Hydraulics. Rollon is engaged in manufacturing, assembly and supply of high precision turned parts, spools, and other machined components with critical engineering applications for the Agriculture and Off-Highway segment from its two facilities based out of Bengaluru (India). The target business will be housed under the Precision Metals and Modules division which is a part of Emerging Businesses division of SAMIL.
Following the industry trends of supplier consolidation, coupled with global footprint of Motherson, this acquisition will create further organic growth opportunities through increase of global share of business with existing and new customers. The transaction will also provide Motherson, access to a pedigreed customer base across the off-highway industry along with specialised machining, plating, surface treatment and sub-assembly capabilities. The proposed transaction will contribute towards the growth of Precision Metals & Modules division. Earlier, the company had entered into agreement on July 07, 2023.
Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.
