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Shares of car wiring maker Motherson Sumi Systems Ltd rose 4.8 per cent to Rs 169.4, their highest since December 5. The company is in early-stage talks with German peer Leoni over a possible combination of the two companies, Reuters had reported on Thursday.
Any deal with Leoni could be worth more than €1 billion ($1.14 billion), but financing still needs to be worked out, according to a source.
Over 1.5 million shares changed hands in the first few minutes of trade against the 30-day moving average of 7.8 million shares. Motherson Sumi stock had fallen about 36 per cent this year as of last close.
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