Motherson Sumi Systems jumps 10% as 80% plants now operational

NEW DELHI: Shares of Motherson Sumi Systems climbed over 10 per cent in Thursday’s trade after the automotive component manufacturer said that more than 80 of its manufacturing facilities across the world are now operational.

Following the report, the stock jumped 10 per cent to hit a high of Rs 89.50 on BSE.

The company, which has 152 manufacturing facilities in total, said that 30 per cent of the 80 plants are running at more than 80 per cent capacities while the rest are running at up to 50 per cent capacities.

The company said it has obtained necessary approvals from the concerned authorities in respective regions in relation with the plant operations.

Additionally, the company said the rest of the plants are being prepared to be in ready state as per post-Covid requirements and "once the permissions are obtained, these plants too will start operating".

Motherson Sumi is the largest auto ancillary in India. It was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India.