Auto Sector

The transaction will be executed at arm's length, with no promoter or group firm having a vested interest in the investment.

These solutions are designed to service India's burgeoning EV sector as well as other stationary applications.

Samvardhana Motherson International Ltd (SAMIL) has successfully acquired a 34% stake in Motherson Auto Solutions Ltd (MASL) from Sojitz Corporation.

The company declared a profit before tax (excluding exceptional items and one-time events) of ₹594 Crore (up 51%) for the quarter.

The company's overall revenue from operations amounted at ₹4,393 Crore, up 10.20% from ₹3,986 Crore in Q1FY24.

In July, Class 8 truck orders in North America reached a 15-month low of 12,400 units. These orders were down 5% from June.

This transaction will be carried out by Samvardhana Motherson Innovative Solutions Ltd (SMISL), SAMIL's wholly-owned subsidiary.

This move intends to allow the respective businesses to follow their unique objectives with greater agility, hence increasing shareholder value.

The country's largest automaker's April-June revenue increased 9.9% to ₹35,531.4 Crore from ₹32,326.7 Crore in the same period last year.

The collaboration between EVfin and ACKO aims to reduce the financial burden on EV owners in the event of an accident or hospitalisation.