Motherson Sumi reduced its consolidated debt to Rs 9,705 crore at the end of December quarter, from Rs 11,302 crore at the end of September 2018.
The move is positive for Motherson Sumi Systems as it is leading supplier to global passenger vehicle players, Sharekhan said.
The breadth of the market favoured the advances with 831 stocks advancing and 685 declining while 532 remained unchanged. On the BSE, 889 stocks advanced, 625 declined and 77 remained unchanged.
Leoni, which had reported 4.9 billion euro revenue in 2017, is expected to help the company to achieve its $18 billion annual targets by 2020.
Largecap and quality midcaps are a better bet at current levels. In terms of sectors, investors can look at banking, insurance, AMC companies, IT and retail-oriented stocks
Motilal Oswal prefers four-wheeler stocks over 2-wheeler and CVs due to their stronger volume growth and a stable competitive environment.
Prabhudas Lilladher recommended accumulate rating on Motherson Sumi Systems with a target price of Rs 179 in its research report dated November 15, 2018.
Japanese investment firm Nomura slashed its target price for Motherson Sumi to Rs 197 from Rs 249 earlier, though it has maintained buy call on the stock.
Net Sales are expected to increase by 10 percent Y-o-Y to Rs. 14,774.4 crore, according to Prabhudas Lilladher.
Rupak De of Bonanza Portfolio said 11,000 may act as an immediate resistance, and if the index manages to trade above 11,000 then we may see a rally towards 11,200 levels.
German automaker BMW lowered its full year revenue as well as profit guidance.
The company said after adjusted for adjustments due to new accounting standards, revenue increased by 24 percent to Rs 16,106 crore compared to Rs 12,967 crore in same quarter last fiscal.
Motherson Sumi Systems has reported a consolidated total income from operations of Rs 14,775.46 crore and a net profit of Rs 443.07 crore for the quarter ended Jun-2018
Motherson completed the acquisition of interior components and modules manufacturer Reydel Automotive Group (Reydel) for USD 201 million (over Rs 1,300 crore).
Motherson Sumi Systems (MSSL), flagship company of the Samvardhana Motherson Group (SMG), said this acquisition through its step down subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRP BV) will bolster its offerings in the automotive interiors space.
Net Sales are expected to increase by 23.9 percent Y-o-Y (up 5.6 percent Q-o-Q) to Rs. 16,264.5 crore, according to Kotak.
On the upside, a rally above 10,860 levels can see the index moving rally towards 10,929 levels which is its May high.
JM Financial is bullish on Motherson Sumi Systems has recommended buy rating on the stock with a target price of Rs 385 in its research report dated May 24, 2018.
Prabhudas Lilladher recommended accumulate rating on Motherson Sumi Systems with a target price of Rs 373 in its research report dated May 24, 2018.
Research firm Deutsche Bank has maintained a hold rating on the stock and has cut target to Rs 340 from Rs 360 per share. The firm expects FY18-20 EBITDA and EPS CAGR at 25 percent and 33 percent.