Motherson Sumi gains 3% post upbeat brokerage view
Shares of Motherson Sumi gained around 3 percent intraday as investors reacted to positive brokerage views.
They were reacting to the company’s recently-concluded analysts’ meet where the company also gave out its topline guidance as well.
Brokerage: CLSA | Rating: Outperform | Target: Rs 400
CLSA said that the management reiterated its FY20 topline guidance. It also continues to like its long-term growth story. The brokerage is also concerned about weakening auto demand in Europe.
Brokerage: Nomura | Rating: Buy | Target: Rs 442
Nomura said that it is convinced about the company’s ability to sustain strong growth momentum. The focus on RoCE and value addition will drive growth. It expects 38 percent EPS CAGR over FY18-20.
Brokerage: Credit Suisse | Rating: Neutral | Target: Rs 350
The brokerage said that SMP is gaining share & reaching end of its capex phase. Further, it said that both SMP & SMR managed to improve market share.
At 12:16 hrs Motherson Sumi Systems was quoting at Rs 354.45, up Rs 8.70, or 2.52 percent, on the BSE. It touched an intraday high of Rs 354.90 and an intraday low of Rs 347.25.