Samvardhana Motherson International rises as its arm to acquire 100% stake in SAS Autosystemtechnik GmbH
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Samvardhana Motherson International is currently trading at Rs. 82.30, up by 2.75 points or 3.46% from its previous closing of Rs. 79.55 on the BSE.
The scrip opened at Rs. 81.90 and has touched a high and low of Rs. 84.20 and Rs. 81.30 respectively. So far 1304094 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 110.89 on 18-Feb-2022 and a 52 week low of Rs. 61.85 on 25-Oct-2022.
Last one week high and low of the scrip stood at Rs. 84.20 and Rs. 78.70 respectively. The current market cap of the company is Rs. 55803.83 crore.
The promoters holding in the company stood at 68.16%, while Institutions and Non-Institutions held 20.26% and 11.58% respectively.
Samvardhana Motherson International’s step-down subsidiary -- Samvardhana Motherson Automotive Systems Group B.V., Netherlands, has entered into an agreement to acquire 100% stake in SAS Autosystemtechnik GmbH, Germany from Faurecia, a company of the FORVIA Group.
The objective of the acquisition is to enhance integration in the automotive supply chain thereby increasing customer proximity and product diversification across customers, products and geography with increased exposure to electric vehicle programs.
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.
