Motherson Sumi Wiring India is the demerged entity of Motherson Sumi Systems.
Shares of Motherson Sumi Systems were currently trading 1.18% lower, at Rs 134 on the BSE.
The scrip of Motherson Sumi Wiring India debuted at Rs 66 on the BSE today, hit the days high at Rs 69.30, and was later locked in a 5% lower circuit. On the BSE, 8.96 lakh shares of the company changed hands on the counter so far.
Motherson Sumi Systems in January 2021 said that it would demerge its wiring harness undertaking and list it as a separate entity. The promoters of the company are Motherson Sumi and Sumitomo itself.
A domestic brokerage has reportedly said that Motherson Sumi Wiring (MSWIL) offers a pure India play on the auto industry, with a focus on the attractive wiring harness business.
The company enjoys market leadership in the Indian wiring harness industry, with an estimated market share of over 40%. The Wiring Harness business benefits from the megatrends (of premiumization, increasing use of electronics, and electrification) playing out in the auto industry, resulting in an increase in content.
This, coupled with a strong JV partner and market leadership, has resulted in a strong operating performance by MSWIL, as reflected in the sustained higher growth than underlying industry volumes, industry-leading capital efficiencies, and strong balance sheet, the brokerage reportedly said.
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