Motherson Sumi Systems corrects on profit booking

Motherson Sumi Systems fell 6.94% to Rs 264.15 at 13:37 IST on BSE on profit booking after the stock jumped 17.05% in the preceding two trading sessions to Rs 283.85 on 9 November 2015, from a recent low of Rs 242.50 on 5 November 2015.

Meanwhile, the BSE Sensex was down 260.93 points, or 1%, to 25,860.47.

On BSE, so far 4.31 lakh shares were traded in the counter, compared with an average volume of 5.77 lakh shares in the past one quarter.

The stock hit a high of Rs 283.50 and a low of Rs 263.40 so far during the day. The stock hit a record high of Rs 395.85 on 6 August 2015. The stock hit a 52-week low of Rs 217.30 on 5 October 2015.

The stock had outperformed the market over the past one month till 9 November 2015, rising 17.98% compared with 3.54% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 18.59% as against Sensex's 7.49% decline.

The large-cap company has an equity capital of Rs 132.29 crore. Face value per share is Re 1.

On a consolidated basis, Motherson Sumi Systems' net profit jumped 176% to Rs 287 crore on 14% growth in revenue to Rs 9037 crore in Q2 September 2015 over Q2 September 2014.

The result was announced on Friday, 6 November 2015. The stock surged 9.59% to Rs 265.75 on that day.

Motherson Sumi Systems (MSSL) is one of the world's fastest growing specialised automotive component manufacturing company for OEMs. MSSL is the flagship company of the Samvardhana Motherson Group, established in 1986. It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan).

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