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Shares of auto components maker <keyword id="279618" type="General" weightage="20" keywordseo="samvardhana-motherson" source="Orion">Samvardhana Motherson</keyword> International Ltd (SMIL) on Wednesday jumped 10% after the company said it will acquire 81% stake in the four-wheeler business of Yachiyo Industry, a Honda Motor subsidiary. The stock rallied 8.69 per cent to hit its 52-week high of Rs 92.50 on the BSE. At the NSE, it jumped 9.98 per cent to Rs 93.65 -- its 52-week high level. The company has entered into a partnership with Honda Motor under which it will form a 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, SMIL said in a statement. Yachiyo Industry Co Ltd is a publicly listed firm on the Tokyo Stock Exchange. It is a subsidiary of Honda Motor Co Ltd. It has four-wheeler (4W) and two-wheeler (2W) businesses. "As a part of the overall transaction, the 2W business will be transferred to Honda Motor before Motherson acquires 81 per cent stake in Yachiyo's 4W business," the statement said.

Auto parts maker Samvardhana Motherson shares hit 52-week high

<ul><li><keyword id="279618" type="General" weightage="80" keywordseo="samvardhana-motherson" source="Orion">Samvardhana Motherson</keyword> hit a 52-week high on Wednesday, and has kept up with its run on Thursday.</li><li>Yachiyo acquisition will have an earnings upside say brokerages which have upgraded its target price.</li><li>The company can gain from new market access in addition to a better product mix from the acquisition. </li></ul>The stock of auto component company Samvardhana <keyword id="135627" type="General" weightage="100" keywordseo="motherson" source="Orion">Motherson</keyword> has been on a bull run after it announced two strategic acquisitions. It has hit a 52-week high on Wednesday, and has kept up with its run even on Thursday — aided by brokerage upgrades. The Noida-based company has reached an agreement to acquire 81% of Yachiyo’s four-wheeler business for 117 million Euro; in addition to a $14 million investment into Prysm Systems which makes touch-enabled display screens. As per J M Financial, the Yachiyo acquisition is attractively valued as its 1.7 times the trailing EBITDA and 0.2 times the sales. “Transaction closure is expected by 1QFY25 and will be funded through internal accruals,” says J M Financial. Yachiyo is a strategic supplier to Honda Motors, and has a decades-long relationship with the Japanese auto major. Honda also has a stake in Yachiyo. Following the acquisition, Motherson will form an 81:19% strategic partnership with Honda Motors, which owns the rest of the stake in <keyword id="17917515" type="General" weightage="50" keywordseo="yachiko" source="Orion">Yachiko</keyword>. Sunroofs in the mix Yachiko mostly manufactures and supplies sunroofs where it has a 9% global market share; in addition to fuel tanks. This addition will propel Samvardhana Motherson into the global markets, “This acquisition would help Samvardhana Motherson partner with <keyword id="72707" type="General" weightage="20" keywordseo="honda-motor" source="Orion">Honda Motor</keyword> for global business, access strong R&amp;D capabilities in sunroof and fuel tanks, foray into the global sunroof market,” says J M Financial. Sunroof systems have high growth potential globally, with increasing adoption across segments. “It (Yachiko) is also developing next gen products like lightweight tailgate module etc,” says a research note by Nomura. Moreso, it gives Samvardhana Motherson a leg up when it comes to cross-selling its existing products to Honda Motor, and diversifying its product and client mix. As of now, Volkswagen, Audi and <keyword id="6381274" type="General" weightage="50" keywordseo="mercedes-benz" source="Orion">Mercedes Benz</keyword> are its biggest customers, in addition to Indian auto major Maruti Suzuki. A large part of the products Motherson makes are wiring harness, vision systems, bumpers, door panels and more. More importantly it gives Motherson a headway into the Japanese market, where it can build relationships with other automakers. “Further upside can come from its ability to add new customers across Japan, USA and EU. Japanese OEMs are likely to be the biggest beneficiary of a US recovery due to very low inventory, and EU growth estimates have also been revised up,” says Nomura. Past performance on D-Street In the last one year, the stock has been volatile as it hit two steep lows once in October last year, and March this year, before rising steadily. It has given 13% returns in the last one year, and performed better over a six-month period — with 20% returns. Market analysts are however betting on it to have a better run-rate ahead. The stock is hovering around ₹90, but J M Financial has a target price of ₹120. Nomura too recently upgraded it to ₹105, after the acquisition as it believes the acquisition will give it earnings upsides. J M Financial however sees value beyond the acquisition too. “Easing supply chain, sustained recovery in global auto sales, higher operating leverage and improving profitability is expected to drive return on capital employed (ROCE) going ahead,” the brokerage firm says. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO <a href="https://www.businessinsider.in/business/news/fmcg-q1fy24-preview-dilemma-between-price-cuts-and-volume-growth/articleshow/101519331.cms">FMCG sector Q1 preview — Caught between price cuts and volume growth</a> <a href="https://www.businessinsider.in/business/auto/news/evs-hold-investor-attention-even-as-startup-funding-drops-sharply-in-h1-2023/articleshow/101532156.cms">EVs hold investor attention even as startup funding drops sharply in H1 2023</a>

Samvardhana Motherson set to bloom from its Japanese play

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Friday despite negative cues in global markets. </li><li>Leading the morning gains were IT, FMCG and PSU bank stocks. </li><li>Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Friday despite negative cues in global markets. Leading the morning gains were IT, FMCG and PSU bank stocks. Both the benchmark indices are up by 0.3%, with Sensex hovering at 62,079 points and Nifty50 hovering at 18,374 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.66% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.27% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.48% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.10% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corporation </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.55% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.09% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhartti Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.34% </td></tr></tbody></table> Source: NSE, as on May 26, 2023 Earlier on Thursday, markets closed in the green after a recovery in the fag-end of the trading session, closing 0.2% higher. Gold prices edged lower to ₹59,500 per 10 grams while silver was hovering at ₹70,200 per kilogram. Crude oil prices edged lower, with Brent crude hovering at $76 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets remain in a flux over US debt ceiling" comment="subhead" text="Global markets remain in a flux over US debt ceiling">Global markets remain in a flux over US debt ceiling</cmsannotation> Global markets remained in a flux over the US debt ceiling crisis. While Dow Jones fell 0.11%, S&amp;P 500 closed 0.88% higher on Thursday. The tech-heavy Nasdaq rallied 1.71%. Sentiments in Asian markets were similarly mixed, with Hang Seng falling 1.97%, followed by Shanghai Composite which was down 0.55%. Taiwan Weighted was up 1.12%, while Nikkei 225 gained 0.97%. KOSPI edged up too, gaining 0.2%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> Entertainment: The media and entertainment company reported a net loss of ₹196 crore in the March quarter as against a profit of ₹182 crore a year ago. Revenue declined 9% YoY to ₹2,112 crore. Vodafone Idea: The telco trimmed its losses in the March quarter to ₹6,419 crore from ₹6,563 crore a year ago and ₹7,988 crore in the December quarter. Its revenue rose 3% YoY to ₹10,532 crore, while average revenue per user (ARPU) remained flat sequentially at ₹135. Reliance Industries: The company’s FMCG arm, Reliance Consumer Products, completed the acquisition of a 51% stake in Lotus Chocolates for ₹74 crore and also subscribed to the company’s non-cumulative redeemable preference shares for ₹25 crore. Earnings today: <keyword id="6354737" type="General" weightage="100" keywordseo="ongc" source="Orion">ONGC</keyword>, <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword>, Sun Pharmaceuticals, Bharat Heavy Electricals, Avalon Technologies, Indigo Paints, Samvardhana Motherson International, TCI Express, Grasim Industries, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/lic-shares-surge-over-3-after-it-posts-a-five-fold-jump-in-q4-net-profit/articleshow/100495712.cms">LIC shares surge over 3% after it posts a five-fold jump in Q4 net profit</a> <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-titan-eicher-motors-tata-motors-reliance-and-other-big-companies-performance-in-nifty-50/articleshow/100474408.cms">Big boys drive Nifty50’s revenue and profit growth in FY23</a> <a href="https://www.businessinsider.in/business/corporates/news/gqg-partners-rajiv-jain-doubles-down-on-his-adani-bet/articleshow/100450041.cms">GQG Partners’ Rajiv Jain doubles down on his Adani bet</a>

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Auto parts maker Samvardhana Motherson shares hit 52-week high

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Samvardhana Motherson set to bloom from its Japanese play

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Sensex, Nifty50 surge in morning trade led by IT, FMCG and PSU bank stocks

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