Samvardhana Motherson shares hit 52-week high, soars over 8%; here's why

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₹90.61 apiece on BSE. The stock touched intraday high of ₹92.50. “A strong gap up opening is seen followed by some volatility in initial trades, the momentum is definitely on the positive side, with the bullish gap range 86 - 88 to act as support whereas the momentum has potential to push prices towards 3 digit i.e.

levels of 100,"Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One. The company that manufactures automotive components, announced on Tuesday that it would buy an 81 percent share in Yachiyo Industry, a subsidiary of Honda Motor, which specialises in four-wheelers. According to a statement from Samvardhana Motherson (SMIL), the company has partnered with Honda Motor, under which it will create an 81:19 strategic partnership with the latter, in which both parties will work to steer the company towards a strong and sustainable future and ensure that it is fully ready for next-generation products and technologies.

“This acquisition is an important landmark for Motherson as we are honoured to be handpicked by Honda San for a global partnership. We will give our best to live up to the trust bestowed upon us by Honda San. These new product segments are in line with our increasing content per car strategy as well as our customer-centric approach.  We believe this business will be highly synergistic with Motherson’s existing portfolio as we see ample opportunities to grow this new business globally by leveraging our global relationships with automotive OEMs.