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Motherson Sumi drops nearly 5% on bourses

By Religare
|

Shares of Motherson Sumi fell nearly 5 per cent on Bombay Stock Exchange (BSE) in the midst of concerns that regulatory problems being faced by its key client, Volkswagen (VW), may weigh on its business prospects. The US Environmental Protection Agency (EPA) has accused Volkswagen Group of fudging diesel-emission tests by using illegal emission-control software.

Following the development, shares of company dropped 4.62 per cent in intra-day trade to Rs. 250.05 a piece on BSE.

 

In a similar trend, shares of the company dipped 4.90 per cent to Rs 249.40 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,261.98, up 69 points, or 0.26 per cent, at 11:13 hours.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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