ICICI Prudential Mutual Fund buys fresh shares of Motherson Sumi Wiring India

India's third-largest mutual fund house ICICI Prudential Mutual Fund picked up a stake in mid-cap company Motherson Sumi Wiring India through the open market transaction, taking its stake to above 5% in the auto ancillary company.

According to a filing by the mutual fund house, dated February 21, the fund under its various schemes bought 19,98,129 shares of Motherson Sumi Wiring India, representing a 0.045% stake.

As a result of the aforesaid purchase, the shareholding of the fund has exceeded 5% of the paid-up capital of the company, reaching a 5.033% stake. Ahead of the stake purchase, ICICI Prudential Mutual Fund held a 4.988% stake in Motherson Sumi Wiring India.

The holding by schemes of the fund is from an investment perspective and not with the objective of seeking any controlling interest, the fund house said in a release.

Apart from ICICI Prudential Mutual Fund, key fund houses like SBI Mutual Fund, Mirae Asset Managers and UTI Mutual Fund also hold stakes in the company.

Share Price Trend

The stake purchase by ICICI Prudential Mutual Fund comes amid a weak performance by Motherson Sumi Wiring India shares, suggesting bargain hunting by the fund house.

In the last one month, Motherson Sumi Wiring India share price has lost 14% while it is down 22% in the past three months. On a longer time frame of six and 12 months, the stock has lost 32% each, shows Trendlyne data.

Around 2.15 pm, shares of Motherson Sumi Wiring traded with cuts on the BSE, down 2% at ₹48.12 apiece. The stock hit the day's high of ₹49 and a low of ₹47.85 today.

Motherson Sumi Wiring Q3 Performance

In the last quarter, ended December 2024, Motherson Sumi Wiring India, reported a near 17% drop in profit to ₹140 crore as the cost of expansion weighed on profitability. The company, which caters to automakers like Maruti Suzuki and Tata Motors, had posted a profit of ₹168 crore a year earlier.

Meanwhile, its total revenue increased by 9% year-on-year to ₹23,00 crore.

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