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Nifty trades above 14,650; pharma stocks correct

Barometers traded sideways with small gains in mid morning trade. PSU Bank, metal and media stocks were in demand while pharma shares witnessed selling. The Nifty hovered above the 14,650 level.
At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 116.92 points or 0.24% at 48,835.49. The Nifty 50 index was up 37.55 points or 0.26% at 14,671.90.
In broader market, the S&P BSE Mid-Cap index surged 1.01% while the S&P BSE Small-Cap index was rallied 1.07%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1813 shares rose and 862 shares fell. A total of 156 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,289.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 552.92 crore in the Indian equity market on 3 May, provisional data showed. ....

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Motherson Sumi rises on concluding acquisition of EWIS in Mexico

Motherson Sumi Systems rallied 2.34% to Rs 220.75 after the company said it successfully completed the acquisition of Bombardier s Electrical Wiring Interconnection Systems (EWIS) business in Huehuetoca, Mexico.Motherson Sumi Systems (MSSL), via 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 Mico).
In October last year, the company had announced the acquisition of Bombardier s Mexico-based EWIS business for around $10 million through MRS.
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. ....

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Motherson Sumi Systems Ltd. successfully completes the acquisition of Bombardier's EWIS business in Huehuetoca, Mexico

Motherson Sumi Systems Ltd. successfully completes the acquisition of Bombardier's EWIS business in Huehuetoca, Mexico
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