TS Harihar positive on Motherson Sumi, may test Rs 650-700

TS Harihar, Chief Executive at HRBV Client Solutions told CNBC-TV18, "Motherson Sumi Systems has been consolidating in the range of about Rs 460 on the downside to about Rs 520 on the upside. We believe that this range is going to be broken and the stock will get closer to about Rs 650-700 in the next three-four months.""In terms of global order flows and in terms of the margins, this looks one of the better plays as far as auto ancillaries are concerned. They have a long-term agreement with Daimler Benz of Germany which is going to hold them in extremely good state. Therefore, we are extremely positive on the stock," he said.