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Samvardhana Motherson International has announced a board meeting on the financial results for the quarter and half-year. The company received approval to reclassify Sumitomo Wiring Systems and H.K. Wiring Systems from promoter to public shareholding, cutting promoter holding from 58.13% to 48.60% and raising public holding to 51.40%. This boosts free float and may improve stock liquidity. No immediate operational or financial impact has been indicated.
All announcements from Samvardhana Motherson International Limited