Indian automakers reported a decline in shipments to dealers for the first time in more than two years during the July-September quarter, to help manage the excess inventory
Indian automakers reported a decline in shipments to dealers for the first time in more than two years during the July-September quarter, to help manage the excess inventory
Auto components maker Samvardhana Motherson International on Monday said it has raised Rs 6,438 crore via issue of securities. The QIP issue garnered strong interest from both domestic and foreign institutional investors, leading to substantial demand over the issue size, it said in a regulatory filing. Over 95 per cent of allocations were made to marquee long-only investors such as mutual funds, insurance and pension funds, foreign institutional investor, it added. The proceeds from the issuance will be mainly directed towards debt repayment, thereby further strengthening company's balance sheet and enhancing its position to capitalise on various growth opportunities, it stated. Some of the proceeds will be used towards general corporate purposes, the company said. Shares of the company on Monday ended 2.19 per cent up at Rs 207.25 apiece on BSE.
The aggregate face value of the CCD are proposed to be converted into equity shares at a discount of 13.83 per cent
Shares of domestic auto component suppliers took a beating on Wednesday after Germany-based automaker BMW cut its Ebit margin and RoCE guidance due to escalating recall costs and delivery stops
With a market capitalisation of about $15 billion, Motherson supplies parts to domestic and global automakers such as Maruti Suzuki and Mercedes-Benz
Shares of Samvardhana Motherson International Ltd (SAMIL) surged up to 4.42 per cent at Rs 188.75 a piece on the BSE
Auto components major Samvardhana Motherson International Ltd on Tuesday reported a 69.3 per cent jump in consolidated net profit at Rs 1,097.18 crore in the first quarter ended June 30, 2024, driven by strong revenue growth. The company had posted a profit of Rs 648.12 crore in the same quarter last fiscal, Samvardhana Motherson International Ltd (SAMIL) said in a regulatory filing. Total revenue from operations in the quarter under review stood at Rs 28,867.96 crore as compared to Rs 22,462.18 crore in the year-ago period, it added. Total expenses in the first quarter were higher at Rs 27,601.7 crore as compared to Rs 21,629.09 crore in the same period a year ago, the company said. "The company has delivered robust quarterly performance despite flat industry volumes," Motherson Chairman Vivek Chaand Sehgal said. He further said all announced acquisitions have been successfully integrated and have started to contribute positively and their full potential will be realised in the .
LIC Housing, Marico, JK Cement and Motherso Sumi have shed up to 15% in the last four days alongside up to 15% increase in open interest, thus suggesting short buildup at these counters.
The initiative is part of Motherson's strategy to leverage its manufacturing expertise and branch out into new sectors
Tata Tech from the midcap index and Equitas SFB, Kolte Patil Developers, Landmark Cars, Nilkmal, Spandana Sphoorty and Tasty Bite from the smallcap index hit their respective 52-week lows
Auto components maker Samvardhana Motherson International Ltd on Friday said it has raised USD 350 million (around Rs 2,920 crore) through the issuance of notes. The notes were issued by the step-down subsidiary, SMRC Automotive Holdings Netherlands BV (SAHN BV) backed by a corporate guarantee from Samvardhana Motherson International Ltd (SAMIL), the company said in a statement. The issue was oversubscribed six times with a peak order book in excess of USD 2.2 billion, it added. "The fund raised by way of issuance of notes marks return of the Motherson Group after 8 years to USD bond market and first-ever with a dual investment grade rating from two reputed international credit rating agencies -- Moody's and Fitch," SAMIL said. The issuance is debt neutral as proceeds from the same will be utilised to repay existing debt. The notes shall be listed on the Frankfurt Stock Exchange, it added. "The success of this transaction is a testament to the Motherson Group's adherence to its ..
RVNL, MDL, Samvardhana Motherson International, Cummins and Indus Towers, have joined the elite club in CY24; These stocks have surged up to 174% thus far this year.
The Nifty PCR data suggests that the index may attempt a rally towards 23,700 level ahead of the June series expiry; On the downside, strong support is expected around 23,350 - 23,290.