Samvardhana Motherson: Shares of Samvardhana Motherson fell by more than 16.84 percent in five days, know the reason for this decline – why are the shares of samvardhana motherson share falling
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Why is Samvardhan Motherson’s share falling?
Actually the reason for this fall in the shares of Samvardhan Motherson is the block deal. According to a CNBC TV18 report, Samvardhan is likely to sell 3.4 per cent stake in Motherson International. Sumitomo Wiring may sell this stake in Samvardhan Motherson through a block deal. According to the report, the floor price of the deal will be Rs 69.9 per share. The total deal size would be $195 billion. Sumitomo Wiring Systems is headquartered in Japan. The promotion is one of the major investors in Motherson. It held 17.55 per cent stake in the company as of December 31, 2022.
Investors broke down to buy this share of Gautam Adani, upper circuit seems to be in full swing, no one is ready to sellThe company has made profit
Samvardhan, counted among the top auto subsidiaries in India, had reported 388 per cent year-on-year growth in net profit to Rs 454 crore in the third quarter of FY2023. The company’s revenue grew 25 per cent year-on-year to Rs 20,226 crore during the period. Shares of Samvardhan closed at Rs 76.80 per share on BSE in the trading session on March 15, 2023, down two per cent over the previous day’s close.
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