Samvardhana Motherson International Ltd. shares rose 4% in early trading on Tuesday, on news that the company will join Apple’s supply chain network.

According to The Economic Times, the auto component company, led by Vivek Chaand Sehgal, is probably going to join Apple’s supply chain network in India through Hong Kong-based BIEL Crystal Manufactory, one of the world’s major suppliers of smartphone glass.

According to the report, the 51:49 JV may build a greenfield manufacturing plant in South India, with an approximate investment of ₹2,000–2,500 crore. After starting operations, the JV hopes to generate income of up to ₹8,500 crore in four to five years.

In line with the sell-off in the world market on Monday, Samvardhana Motherson’s shares dropped more than 8.5 per cent.

Today, as of 10:37 am, Samvardhana Motherson shares were trading 3.35% higher at Rs 181.39.

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