Japanese yen s decline to 34-year low positively affects Indian automotive sector. Maruti Suzuki India Limited, Motherson Sumi, and Sharp among the companies set to gain from the situation, with various experts highlighting the impact.
Earnings before interest, tax, depreciation and amortisation (EBITDA) is 60 percent higher at Rs 2,021 crore, while EBITDA margins improved 170 bps to 9 percent.
Motherson Sumi Wiring stock ended at Rs 87.15 against the previous close of Rs 87 on BSE. The stock stands higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
During the quarter under review, the company said it has realigned its operations at Bengaluru and Chennai to cater to increased customer requirements.
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