Kotak Securities on Samvardhana Motherson Maintain Sell with TP of Rs 95

Forays into global PV wiring harness business Expect the acquisition to be marginally EPS dilutive in the near term Acquisition enables to broaden its global customer base Can leverage strong engineering capabilities, premium OEM proximity and advanced LV/HV harness expertise Muted global PV trends and expensive valuation underpin SELL rating