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The stock quoted a 52-week high price of Rs 432.8 and low of Rs 108.75.

Promoters held 59.29 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.95 per cent, DIIs 1.75 per cent.

Motherson said the acquisition will enable it to increase customer proximity, add competency in assembly operations, automation and managing complex logistics, and also increase exposure to EV programs.

The Nifty Realty index was trading 0.01 per cent up at 403.7.

If they are minor in nature, then it is unlikely to hurt sales from the unit. However, if the regulator found major deviations from good manufacturing practices norms, then the resolution process could be longer and delay product launches from the facility.

Realising the severity of the hit to its image, Adani Group has brought in Kekst CNC as a global communications advisor, according to Bloomberg News. The public relations firm co-headquartered in New York and Munich, is known for its work with other corporate blow-ups in recent years.

On the technical charts, the RSI of the stock stood at 35.08.

The stock trades at 4.8x its FY2025E EPS and 0.7x its FY2025E P/BV.

The stock traded at a P/E multiple of 37.53, while the price-to-book value ratio stood at 27.81.

“India is an alternative to China. But you cannot take it for granted. You have to have the right policy and regulatory environment to make sure that the capital that is leaving China is going to come to India. There are plenty of other countries both in Asia and around the world that could be sources of friendshoring.”