The firm looks to strengthen its non-automotive business
PVR, which has been moving in large sideways for a long time, seems to have stabilised above the 200-day moving average for the last couple of weeks, which is a positive sign
Motherson Sumi Systems was also hit by the shortage of semiconductor chips and soaring raw material prices. However, the soft patch provides a good opportunity to accumulate
The auto ancillary company reported a 5.7 percent on-year decline in consolidated total revenue from operations to Rs 16,117.5 crore, which was above Street's estimate of Rs 14,794 crore
Here's what Rajesh Palviya of Axis Securities recommends investors should do with these stocks when the market resumes trading today.
"Considering the weekly chart, we will not be surprised to see it extending towards 16,500 - 16,200 in coming days. We do not want to sound too pessimistic, but this is what the price structure looks like at this moment," says Sameet Chavan of Angel One.
Here's what Vikas Jain of Reliance Securities, recommends investors should do with these stocks when the market resumes trading today.
Its total revenue from operations was at Rs 14,076.39 crore versus 14,957.21 crore YoY.
The company’s board of directors in its meeting held on Monday approved the issuance of rated, listed, unsecured, redeemable NCDs of a face value of Rs 10 lakh each, Motherson Sumi Systems Ltd said in a regulatory filing.
For upcoming sessions, markets are expected to trade with a positive bias, and on higher side, now any decisive move beyond 18,050 levels could add further buying momentum into Nifty50 index, says Shitij Gandhi of SMC Global.
They expect chip shortage to begin easing from October, the festival season to boost demand and increased vaccination to help the auto market recover as urban areas return to normal
Hem Securities is bullish on Motherson Sumi Systems has recommended buy rating on the stock with a target price of Rs 263 in its research report dated September 16, 2021.
Morgqan Stanley has maintained an 'overweight' view on the stock, with a target price of Rs 268.
Prabhudas Lilladher is bullish on Motherson Sumi Systems has recommended buy rating on the stock with a target price of Rs 311 in its research report dated Jun 03, 2021.
The company reported a net profit of Rs 713.62 crore in the quarter ended March 2021 against Rs 183.38 crore in the year-ago period.
The share has touched a 52-week high of Rs 273.
The company had posted a consolidated net profit of Rs 135.66 crore in the same quarter previous fiscal, Motherson Sumi Systems (MSSL) said in a regulatory filing.
In a statement, the company said for the NCLT convened meeting regarding the scheme of reorganisation, the voting results showed that 99.44 per cent of the non-promoter shareholders who voted, were in favour of the proposed restructuring.