Motherson Sumi is currently the top loser, going down 9% to hit an intraday low at Rs.182.30, which is very close to its 10% LC of Rs.180. Volumes are up over 6-times.
The stock is down as it is trading ex-domestic wiring harness from today. The company has set 17th Jan or Monday as its record date.
The shareholders of Motherson, with get one shore of its domestic wiring harness unit (DWH), Motherson Wiring India for every one share held.
Motherson Wiring India is due to be listed separately by March 2022.
SAMIL will be the new name for existing listed entity after the de-merger of DWH business and merger with parent entity. The merger with the promoter entity is expected to take place on 24th January.