SAMVARDHANA MOTHERSON IN THE NEWS AFTER ACQUIRING SOLAR PROJECT COMPANY

has completed the acquisition of Onega Solar Private Limited through it's wholly owned subsidiary Motherson New Energy Limited. This transaction will give the company full ownership of the special purpose vehicle (SPV) established for a 15 MW solar project in Uttar Pradesh. Further, the transaction aligns with the company's sustainability objectives while providing long-term cost efficiencies and reducing carbon emissions across it's domestic operations. On the financial side, the company has seen a healthy profit growth of 60% CAGR over the past 3 years. The stock price has gained over 30% in the last 4 months and currently trading near it's 52-week high levels. Such acquisitions could boost the company's profitability and thereby see an upside in the stock price.