Motherson Sumi presented her results yesterday. On the basis of strong results, this stock was seen to have wings on Wednesday, and it ran up to 13 percent intraday.
During the trading hours yesterday, this stock touched its 52 weeks high of up to Rs 273. The company has made a profit of Rs 713.62 crore in the January-March 2021 quarter, while in the January-March 2020 quarter, the company had a profit of only Rs 183.38 crore.
The company’s income for the January-March 2021 quarter also stood at Rs 16,971.91 crore as against Rs 14,434.48 crore, up 17.57 per cent year-on-year. The company’s EBITDA has increased from Rs 1,242 crore on a year-on-year basis to Rs 1,722 crore during this period. The company’s board has also declared a dividend of Rs 1.50 per equity share for the financial year ended March 31, 2021.
NOMURA’s opinion on MOTHERSON SUMI
NOMURA has a Neutral Rating on MOTHERSON SUMI and has a target of Rs 301 for the share.
CLSA’s opinion on MOTHERSON SUMI
CLSA has given Outperform Rating on MOTHERSON SUMI and has a target of Rs.295 for the share. He said the fourth quarter results were better than expected. He has raised the company’s EPS estimate for FY22/23 by 2-3 per cent.
Opinion on GOLDMAN SACHS on MOTHERSON SUMI
GOLDMAN SACHS has a Buy rating on MOTHERSON and has a target of Rs 236 for the share.
JEFFERIES Opinions on MOTHERSON SUMI
JEFFERIES has rated UnderPerformance on MOTHERSON SUMI and has a target of Rs.205 for the share. He says the company will continue to do well. He has a positive outlook on the stock for the long term. Apart from this, the electric vehicle order book is mixed, while profits will continue to grow on the increase in EV market share.