Motherson Sumi Wiring India advanced 3.50% to Rs 87.20 after the company said its board will consider the proposal for issue of bonus shares to the equity shareholders of the company on 30 September 2022.
As on 30 June 2022, promoters and promoter groups held 61.73% stake in the company.Motherson Sumi Wiring India is a leading and fast-growing full-system solutions provider to OEMs, in the wiring harness segment in India. Motherson Sumi Wiring India is a joint venture between Samvardhana Motherson International (SAMIL)[formerly Motherson Sumi Systems] and Sumitomo Wiring Systems (SWS).
The company reported a 59.8% rise in net profit to Rs 125.96 crore on a 49.8% increase in net sales to Rs 1661.68 crore in Q1 FY23 over Q1 FY22.
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