Samvardhan Motherson Shares Trade Ex-Bonus; stock went up

The company last month informed that it has fixed Wednesday, October 5, 2022, as the ‘record date’ for the release to ascertain the eligibility of shareholders. bonus share by the company.

In August, the Board of Pravardhan Motherson International Limited (formerly Motherson Sumi Systems Limited) considered the offer of bonus equity shares of the company and therefore recommended an issue in the ratio of 1:2 subject to the approval of the shareholders.

The Board of Directors of the Company in its meeting held today i.e. 16th August, 2022 has recommended issue of Bonus Shares in the ratio of 1 (One) Bonus Equity Share against 2 (Two) existing Equity Shares, subject to approval. of shareholders,” the company had informed in an exchange filing.

The company said the bonus shares would be issued from the securities premium account. Bonus shares are fully paid-up additional shares issued by a company to its existing shareholders.

The auto component major said that the estimated date by which such bonus shares would be credited/sent would be within 2 months from the date of board approval, i.e., October 15, 2022.

Motherson Group is a leading manufacturer of parts for the automotive and transportation industries. As part of the group’s restructuring activity, the name of Motherson Sumi Systems Limited (MSSL) has now been changed. stud motherson International Limited (Samil).

For the first quarter ended June 2022, Samvardhan Motherson’s net profit rises to 141 crore, while its revenue was 17,712 crore during Q1 FY23. “Market demand remains strong, however, due to various supply chain constraints including chip shortages, the production volumes of OEMs continued to fluctuate. Passenger car sales showed an improvement from April to June. Motherson’s Chairman Vivek Chand Sehgal said the results for this quarter can be seen in the backdrop of persistent high inflation, high freight charges, energy cost etc.