Samvardhana Motherson surges on getting nod to execute joint venture agreement with Egtronics
Samvardhana Motherson International is currently trading at Rs. 149.25, up by 1.55 points or 1.05% from its previous closing of Rs. 147.70 on the BSE.
The scrip opened at Rs. 147.45 and has touched a high and low of Rs. 149.20 and Rs. 146.50 respectively. So far 49955 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 217.00 on 27-Sep-2024 and a 52 week low of Rs. 107.30 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 154.45 and Rs. 146.50 respectively. The current market cap of the company is Rs. 104383.44 crore.
The promoters holding in the company stood at 58.13%, while Institutions and Non-Institutions held 33.42% and 8.44% respectively.
Samvardhana Motherson International (SAMIL) has received approval from Board of Directors to execute a Joint Venture agreement with Egtronics Co, a company listed on KOSDAQ South Korea.
The Strategic partnership will enable SAMIL via its Wiring Harness Division to provide innovative solutions of vehicle power electronics for clean mobility (i.e EV and Hydrogen) to customers in the commercial vehicle segment thereby enhancing the technological capabilities of the division with the addition of patented product portfolio. The strategic relationship will have its manufacturing operations established in India with global sales (excluding South Korea).
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.
