Motherson Sumi jumps on bargain hunting

Motherson Sumi Systems jumped 5.63% to Rs 211.95 at 13:36 IST on BSE on bargain hunting after the stock fell 15.09% in the preceding five trading sessions to Rs 200.65 on 22 August 2013, from a recent high of Rs 236.30 on 14 August 2013.

Meanwhile, the BSE Sensex was up 165.63 points, or 0.90%, to 18,478.57.

On BSE, 12,000 shares were traded in the counter compared with average volume of 35,053 shares in the past one quarter.

The stock hit a high of Rs 212 and a low of Rs 203.25 so far during the day. The stock hit a record high of Rs 241.10 on 14 August 2013. The stock hit a 52-week low of Rs 120 on 8 September 2012.

The stock had underperformed the market over the past one month till 22 August 2013, sliding 9.88% compared with the Sensex's 9.16% decline. The scrip had, however, outperformed the market in past one quarter, falling 7.90% as against Sensex's 8.72% fall.

The large-cap company has an equity capital of Rs 58.79 crore. Face value per share is Re 1.

Motherson Sumi Systems' consolidated net profit surged 799.26% to Rs 73.20 crore on 10.87% growth in total income to Rs 7086.87 crore in Q1 June 2013 over Q1 June 2012.

Motherson Sumi Systems supplies components, modules and systems to the automotive sector. Its business portfolio encompasses electrical distribution system (EDS), polymer products and complete module solutions. It is the largest supplier of EDS to the Indian automotive industry.

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