Get App
Last Updated : Jan 14, 2020 12:57 PM IST | Source:

Motherson Sumi share price trips 2% on HSBC downgrade, target cut

HSBC believes the stock priced in some recovery but ignored near-term risks.

  • bselive
  • nselive
Todays L/H

Motherson Sumi Systems share price declined more than 2 percent intraday on January 14 after HSBC downgraded the stock to hold.

The research house also slashed cut price to Rs 120 from Rs 135, saying the stock priced in some recovery but ignored near-term risks.

"The stock outperformed the underlying performance improvement and broader market on European Union uptick," HBSC said.


The stock has rallied 44 percent in the last three months amid several government measures, optimism over US-China trade deal and hope of a Brexit agreement by January 31.

The stock was quoting at Rs 142.75, down Rs 3.05, or 2.09 percent, on the BSE at 1240 hours.

Disclaimer: The above report is compiled from information available on public platforms. advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jan 14, 2020 12:57 pm
Follow us on
Available On