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Motherson Sumi have approved to undergo group restructuring, it will demerge its domestic wire harness business from its listed entity MSSL, into a newly incorporated company and merge holding company i.e. Samvardhana Motherson into MSSL to segregate its domestic wire harness business and the auto component & allied business.

Auto stocks turned bearish with all 15 constituents in the Nifty Auto index declined with major falls in Motherson Sumi Sys, Tata Motors, Ashok Leyland and TVS Motors, Maruti and Eicher Motors, down between 4 to 7%

Global signals were also supported, with the Brexit deal which led to some rally in global stocks such as Tata Motors, Motherson Sumi Systems, Tata Steel. FPI buying was in progress with US-China trade talks along with Brexit deal.