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Eligible investors will be entitled to get 1 share against every 2 shares they hold in the company

The Nifty Pharma index closed 2.39 per cent up at 12920.4.

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On the lower end, the index may extend the correction towards 18,070; below that, the index may fall towards 17,800. On the higher end, 18,350 may act as critical support, and the market may remain sell-on-rise till Nifty remains below 18,350.

“The last two to three years had been tough for Motherson as it was adversely impacted by company-specific issues followed by a tough operating environment, resulting in the stock underperforming the NSE Auto Index by 62%/72.5% over 1 year/3 years,” the brokerage firm said.

The World Tennis League (WTL), a new mixed-gender team competition, will take place at the Coca-Cola Arena in Dubai from December 19–24, between four teams each with 18 of the top ATP and WTA Tour players.

The 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.

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"Gold price is a little up in the Asian trading hours. Spot gold prices in the Delhi markets traded at Rs 55,261/10 grams, up Rs 192/10 grams," said Dilip Parmar, Research Analyst at HDFC Securities.

The Nifty Realty index closed 1.62 per cent down at 430.6.