Motherson Sumi Systems gains after board recommends 1:2 bonus issue

Motherson Sumi Systems rose 5.37% to Rs 482.80 at 14:20 IST on BSE after the board of directors of the company at its meeting held today, 10 June 2015, recommended 1 for 2 bonus issue.

The company made announcement during market hours today, 10 June 2015.

Meanwhile, the BSE Sensex was up 282.76 points, or 1.07%, to 26,764.01.

On BSE, so far 3.2 lakh shares were traded in the counter, compared with an average volume of 1.58 lakh shares in the past one quarter.

The stock hit a high of Rs 484.05 and a low of Rs 459.60 so far during the day. The stock hit a record high of Rs 534.40 on 20 April 2015. The stock hit a 52-week low of Rs 295.80 on 10 June 2014.

The stock had underperformed the market over the past one month till 9 June 2015, declining 5.67% compared with 2.3% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, dropping 4.09% as against Sensex's 8.19% fall.

The large-cap stock has an equity capital of Rs 88.19 crore. Face value per share is Re 1.

On consolidated basis, Motherson Sumi Systems' net profit rose 12.4% to Rs 340.10 crore on 12.7% rise in total income to Rs 9481.41 crore in Q4 March 2015 over Q4 March 2014.

A part of Samvardhana Motherson Group (SMG), Motherson Sumi Systems is an auto component manufacturing company.

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