Samvardhana Motherson rises on getting board approval to invest in IFQM

At 3 pm, Samvardhana Motherson shares were trading at Rs 90.08, up by 2.95% from its previous closing of Rs 87.50 on the BSE.

Investment in IFQM

Samvardhana Motherson International has received approval from the board of directors to make an investment of Rs 12.50 crore in the Indian Foundation for Quality Management (IFQM). IFQM is an industry-led and industry-financed ‘Quality Movement’ with the aim to institutionalize Quality in the culture of Indian organizations and increase the global competitiveness of Indian companies and their products.

With a contribution to IFQM as a Founding member, the Company will participate in achieving the overall objectives of IFQM setup for the Indian Industry. The Company will also get additional benefits of having access to key resources of IFQM, interalia, in the areas of Counsellors (i.e. senior and respected quality experts), Champion (i.e. captains of the industry), Code (i.e. defined Holistic Quality Model), Cultural Change (i.e. embedded quality at grassroot level) and Communicate (i.e. involving all stakeholder to prepare the soil).

The Board of Directors of Samvardhana Motherson International in its meeting held on November 27, 2023, approved the same.

Company profile 

Samvardhana Motherson International is one of the world’s leading specialized automotive component manufacturing companies for OEMs. The company, formerly known as Motherson Sumi Systems was established in 1986 as a joint venture with Sumitomo Wiring Systems.

Stock price movement 

Today, the stock opened at Rs 87.99 and has touched a high and low of Rs 90.29 and Rs 86.85 respectively. The BSE group ‘A’ stock of face value of Rs 1 has a 52-week high and low of Rs 103.50 and Rs 61.84, respectively. Last one week high and low of the scrip stood at Rs 90.84 and Rs 86.80 respectively. The current market cap of the company is Rs 61,040.77 crore.

The promoters holding in the company stood at 64.77%, while Institutions and Non-Institutions held 26.41% and 8.83% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.