CNBC-TV18 reported that the share price of auto component major Samvardhana Motherson fell 6% to a 52-week low in early trading on October 18, when 14.6 crore shares changed hands in multiple trades, totalling Rs 952 crore.

The average price of the transaction was Rs 65 per share. The stock was quoted at Rs 65.35 on the National Stock Exchange at 9:45 am, down 5.5%.

On October 17, Japan-based Sojitz Corp announced it would sell a 1.9% stake in Samvardhana Motherson in a block deal at a reserve price of Rs 64.36 per share. The deal size for sale was fixed at Rs 824 crore.

Motherson Group recently restructured itself and changed the name of Motherson Sumi Systems to Samvardhana Motherson International.

According to Emkay Global, the company will report low revenue growth in the September quarter due to its significant presence overseas. The company has cut its target price on the stock to Rs 90 from Rs 95, but it has a “buy” rating.