Samvardhana Motherson International gains on incorporating indirect wholly owned subsidiary
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Samvardhana Motherson International is currently trading at Rs. 99.07, up by 0.71 points or 0.72% from its previous closing of Rs. 98.36 on the BSE.
The scrip opened at Rs. 98.37 and has touched a high and low of Rs. 99.20 and Rs. 97.20 respectively. So far 114986 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 103.50 on 05-Sep-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. 101.53 and Rs. 95.74 respectively. The current market cap of the company is Rs. 67154.34 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 has incorporated indirect wholly owned subsidiary namely ‘Motherson Electroplating US LLC’ (ME-US). ME-US will own and operate the business and assets recently acquired by SMP Automotive Systems Alabama Inc. from Bolta US.
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.
