Read more about Motherson Sumi Systems Ltd stays well supported on Business Standard. Motherson Sumi Systems Ltd is quoting at Rs 154.85, up 2.24% on the day as on 12:49 IST on the NSE. The stock is up 5.56% in last one year as compared to a 13.07% gain in NIFTY and a 10.54% gain in the Nifty Auto index.
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Auto stocks were trading in the negative zone, with the S&P BSE Auto index falling 175.78 points or 0.85% at 20600.3 at 13:48 IST. Among the components of the S&P BSE Auto index, Hero MotoCorp Ltd (down 2.36%), Eicher Motors Ltd (down 2.33%),Mahindra & Mahindra Ltd (down 1.79%),Balkrishna Industries Ltd (down 1.34%),Bajaj Auto Ltd (down 1.23%), were the top losers. Among the other losers were Maruti Suzuki India Ltd (down 0.44%), Tata Motors Ltd (down 0.22%), Amara Raja Batteries Ltd (down 0.21%), and MRF Ltd (down 0%). On the other hand, Cummins India Ltd (up 2.54%), Motherson Sumi Systems Ltd (up 1.36%), and Ashok Leyland Ltd (up 1.17%) moved up.
At 13:48 IST, the S&P BSE Sensex was up 73.31 or 0.16% at 46172.32.
Pressing the Pedal
A spate of acquisitions in the last five years has put Motherson Group among the 50 biggest automotive component firms globally. It is now eyeing a place in the top 10 by trebling revenues by 2025
Vivek Chaand Sehgal, Chairman and Co-Founder, Motherson Sumi Systems - Photograph by Chandradeep Kumar
In the aftermath of the global financial crisis triggered by the bankruptcy of Lehman Brothers, the world s largest rearview mirror maker, Visiocorp, found itself in dire straits in late 2008. It is then that nearly a dozen global automotive giants, including Daimler and Volkswagen, among others, chose to approach a hitherto unknown Indian parts maker, Motherson Sumi Systems, to bail the company out by acquiring it.