Positive on Motherson Sumi, says Neeraj Dewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "Even when Motherson Sumi had corrected with all the bad news surrounding it that time also at around Rs 225-230 we were positive on this stock and with this sort of result which has come now and the management confidence that they will stick to the target of 2020, I think we don’t need to get our numbers down.""Based on our estimates even now, the stock is trading at about 16-17 times close to 7-7.5 times FY17 earnings. So, this kind of a stock has been getting 19-20 times consistently over the past so many years with such high return on capital employed (ROCE) business. I think we will still be positive with little higher target even from the current level," he added.