Motherson Sumi Systems surges on successfully completing acquisition of Bombardier’s EWIS

04 May 2021 Evaluate

Motherson Sumi Systems is currently trading at Rs. 220.55, up by 4.85 points or 2.25% from its previous closing of Rs. 215.70 on the BSE.

The scrip opened at Rs. 219.00 and has touched a high and low of Rs. 221.60 and Rs. 217.85 respectively. So far 116724 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 238.20 on 03-Mar-2021 and a 52 week low of Rs. 72.40 on 06-May-2020.

Last one week high and low of the scrip stood at Rs. 226.50 and Rs. 211.10 respectively. The current market cap of the company is Rs. 68116.64 crore.

The promoters holding in the company stood at 61.73%, while Institutions and Non-Institutions held 30.06% and 8.21% respectively.

Motherson Sumi Systems through its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), has successfully completed the acquisition of assets and activities of Electrical Wiring Interconnection Systems (EWIS) performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico (BT Ensambles México).

MRS is part of the Motherson Rolling Stock Division which designs and manufactures electrical cabinets, power packs and electrical distribution systems for leading rolling stock manufacturers. The company has supported Bombardier’s transformation process over the last years and the successful closure of this acquisition in Mexico is in alignment with the same. In the past the company had also acquired Bombardier’s UK rolling stock electrical component and systems business in Derby.

Motherson Sumi Systems, including its subsidiaries and JVs 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.

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