Motherson Sumi up on German order

Motherson Sumi Systems surged 11.24 per cent to Rs 94 on bagging a Rs 4,000-crore deal from German car makers. The company’s subsidiary, Samvardhana Motherson Reflectec, has received orders for supplying mirrors worth approximately Euro 500 million.

These orders are to be executed over five-six years and will start from 2011. The stock spurted 20 per cent to touch its intra-day high of Rs 101.4. Its low for the day was Rs 83.55. Trading volumes were 730,000 shares, a 16-fold jump over its two-week average.