Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said today that it had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million). Motherson is now the controlling shareholder of PKC Group, holding 93.75% of PKC's outstanding shares and stock options. Motherson's share price has been trending higher since the deal was announced in January, and is currently trading above all SMAs. Motherson is also reportedly now examining a bid on Robert Bosch LLC’s global starter motors and generators division.

Reliance Industries is trending down on the news of the fine of upto Rs. 1,300 crore (including interest) imposed by SEBI, which the company has said it will challenge in court. SEBI found Reliance Industries Ltd (RIL) guilty of unfair trade practices, for betting against its own subsidiary Reliance Petroleum (RPL) through front entities who took short positions in the derivatives market, eventually making profits of around Rs. 447 crore. 

Stock in spotlight: Sintex Industries, which is near its 52 week high, and is reportedly in talks with TPG Capital and Blackstone Group to sell its stake in Sintex Plastics for $200 million. 

Photo of the day: An oryx deer runs in the Arabian desert in Dubai, UAE. KarimSahib/AFP/Getty