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.
Rajesh Agarwal of AUM Capital recommends buying Indraprastha Gas with stop loss at Rs 256 and target at Rs 276, a buy in Motherson Sumi Systems with stop loss at Rs 313 and target at Rs 333 and a buy also in ICICI Prudential Life Insurance with stop loss at Rs 398 and target at Rs 423.
Motherson bagged new orders worth Rs 18,109 crore (euro 2.4 billion) during second half of FY18 and for the full year the new orders won were worth over Rs 35,464 crore (euro 4.7 billion), the company said.
Revenue growth remained strong but operational performance was not that great.
Samvardhana Motherson Automotive Systems Group B V (SMRP BV), a step down subsidiary of MSSL has proposed to acquire Reydel, a privately held portfolio company of Cerberus Capital Management, L.P. (Cerberus) , the company said in a statement.
Going forward, Nifty has an immediate support near 10285 and if it sustains below this level will lead to a further correction towards 10210 and 10141 levels respectively.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Petronet LNG and buy Motherson Sumi Systems.
"Any significant breach below 10,130 may drag Index further lower till 10,000 mark i.e. 78.60 percent Retracement level (Drawn from low of 9687 to high of 11,171) on daily scale which might work as strong support zone," says Rajesh Agarwal of AUM Capital.
Global research firm HSBC has retained a buy on Motherson Sumi Systems as the house sees long term potential in the stock. The firm is of the view that the correction in the stock is overdone post Q3. It expects MSS’s businesses to return to strong growth trajectories.