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    Motherson Sumi Wiring hits 20% upper circuit as stock trades ex-bonus

    Synopsis

    The auto component manufacturer for the September quarter reported a 2% rise in net profit at Rs 116.45 crore. The company had posted a net profit of Rs 114 crore in the same period last fiscal, Motherson Sumi Wiring India (MSWIL) said in a regulatory filing.

    Motherson Sumi Wiring hits 20% upper circuit as stock trades ex-bonusAgencies
    Shares of Motherson Sumi Wiring in Wednesday's trade hit the 20% upper circuit at Rs 71.15, also its new 52-week high, after the auto components company shares turned ex-bonus.

    The company announced bonus share issuance in the ratio of 2:5 on September 30. The record date for the said bonus share issuance is set as November 17.

    The auto component manufacturer for the September quarter reported a 2% rise in net profit at Rs 116.45 crore. The company had posted a net profit of Rs 114 crore in the same period last fiscal, Motherson Sumi Wiring India (MSWIL) said in a regulatory filing.

    Total revenue from operations stood at Rs 1,835.21 crore as against Rs 1,399.95 crore in the year-ago period, it said.

    In the last one year, the shares of Motherson Sumi have corrected by close to 2%.

    Of the 11 analyst recommendations on the counter, seven are strong buy ratings, two buy ratings and one hold and one strong sell, Trendlyne data showed.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)



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