Motherson Sumi Systems gains 1%; UBS maintains buy with target Rs 405
Share price of Motherson Sumi Systems added 1.3 percent intraday Friday as UBS has maintained buy rating on stock with increase in target price of Rs 405 from Rs 370 per share.
The brokerage house expecting strong earnings growth trajectory over next three years.
The ramp up of new facilities and continued margin expansion in international business are the positives.
Mirrors business is gaining share and rising value. And global business is continue to trade at higher end of the space, it added.
At 11:27 hrs Motherson Sumi Systems was quoting at Rs 345.30, up Rs 2.40, or 0.70 percent on the BSE.
The share touched its 52-week high Rs 373.30 and 52-week low Rs 190.01 on 07 November, 2017 and 23 November, 2016, respectively.
Currently, it is trading 7.5 percent below its 52-week high and 81.73 percent above its 52-week low.
Posted by Rakesh Patil