Motherson Sumi drops on high volume after three bulk deals

Motherson Sumi Systems lost 4.42% to Rs 326.60 at 14:10 IST on BSE on high volumes after three bulk deals were executed on the scrip on BSE today, 16 February 2018.

Among the three bulk deals executed on the Motherson Sumi Systems scrip, the first bulk deal of 10.02 lakh shares was executed at Rs 321.45 per share at 11:08 IST on BSE. Second bulk deal of 9.76 lakh shares was executed at Rs 323.65 per share at 11:59 IST on BSE. Third bulk deal of 5.03 lakh shares was executed at Rs 323.90 per share at 12:10 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 192.89 points, or 0.56% to 34,104.58.

Bulk deals boosted volume on the scrip. On the BSE, 30.82 lakh shares were traded in the counter so far, compared with average daily volumes of 11.07 lakh shares in the past one quarter. The stock had hit a high of Rs 348 and a low of Rs 320 so far during the day. The stock hit a record high of Rs 395 on 20 December 2017. The stock hit a 52-week low of Rs 225.97 on 16 February 2017.

The stock had underperformed the market over the past 30 days till 15 February 2018, falling 11% compared with 2.24% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 5.14% as against Sensex's 2.86% rise. The scrip, however, outperformed the market in past one year, surging 47.77% as against Sensex's 21.19% rise.

The large-cap company has equity capital of Rs 210.53 crore. Face value per share is Re 1.

Motherson Sumi Systems' consolidated net profit rose 2.63% to Rs 561.71 crore on 34.95% increase in total income to Rs 14450.66 crore in Q3 December 2017 over Q3 December 2016.

Motherson Sumi Systems is the flagship company of the Samvardhana Motherson Group. The company including its subsidiaries and joint ventures is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.

Powered by Capital Market - Live News