$MOTHERSON

Samvardhana Motherson International shares gained in Thursday's trade after a sharp rise in European car sales boosted sentiment for auto component makers with significant exposure to the region. Europe accounts for more than 33% of Samvardhana Motherson's revenue, while around 25% of Sona BLW Precision Forgings' (Sona Comstar) sales come from the region. The improvement in European vehicle demand supported investor sentiment for both companies. European new-car registrations rose 13% year-on-year to 1.41 million units in June, marking the strongest annual growth since October 2023, according to the European Automobile Manufacturers' Association, as quoted by Bloomberg. Sales of battery electric vehicles surged 51%, pushing the share of plug-in vehicles to more than one-third of total registrations. At the time of writing, Samvardhana Motherson International shares were trading 1.55% higher at Rs 582 on the NSE, while Sona BLW Precision Forgings shares were up 0.28% at Rs 528.50. Separately, the companies said their partnership will focus on developing powertrain systems for passenger vehicles, commercial vehicles, two-wheelers, three-wheelers, and larger vehicle applications, with the joint ventures to be based in India.