Samvardhana Motherson shares tank 10% after promoter sells stake via block deals
1 year, 9 months ago

Samvardhana Motherson shares tank 10% after promoter sells stake via block deals

Live Mint  

Shares of Samvardhana Motherson International Ltd plunged 10.94 per cent to trade at ₹68.40 on the NSE in Thursday's intra-day trade after promoter Sumitomo Wiring Systems sold 3.4 per cent stake in the company through block deals to fund partial debt repayment. SWS, the Japan-headquartered promoter firm, held nearly 17.55 per cent stake in Samvardhana Motherson as of December quarter, according to the shareholding pattern data. “Sumitomo Wiring Systems, Ltd, Japan, a promoter of Samvardhana Motherson International Limited has intimated selling of 3.4% shares held in SAMIL through ‘bulk deal’ at stock exchange in India, as part of global deleveraging strategy to fund partial debt prepayment of SWS group in the rising interest environment,” the company said in a filing. Samvardhana Motherson has an average target of ₹98 and the consensus estimate represents an upside potential of 27.60 per cent from its current levels, according to Trendlyne data.

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Samvardhana Motherson International Q2 Results Live: Profit Rise by 336.49% YOY
1 month, 1 week ago

Samvardhana Motherson International Q2 Results Live: Profit Rise by 336.49% YOY

Live Mint  

Samvardhana Motherson International Q2 Results Live : Samvardhana Motherson International declared their Q2 results on 12 Nov, 2024, showing a remarkable profit increase of 336.49% year-over-year. In terms of stock performance, Samvardhana Motherson International has seen a -9.84% return in the last week, while over the last six months, the return has been a positive 30.18%, and a remarkable 62.86% …

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