Shares of auto components maker Samvardhana Motherson International Ltd (SMIL) on Wednesday jumped 10 per cent after the company said it will acquire 81 per cent stake in the four-wheeler business of Yachiyo Industry, a Honda Motor subsidiary. The stock rallied 8.69 per cent to hit its 52-week high of Rs 92.50 on the BSE. At the NSE, it jumped 9.98 per cent to Rs 93.65 — its 52-week high level.
The company has entered into a partnership with Honda Motor under which it will form a 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, SMIL said in a statement.