Motherson Sumi Systems lost 2.48% to Rs 263.50 at 14:03 IST on BSE after consolidated net profit rose 1.49% to Rs 139.63 crore on 24% growth in revenue to Rs 7166 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 1 November 2013.
Meanwhile, the S&P BSE Sensex was up 36.67 points or 0.17% at 21,201.19.
On BSE, 1.58 lakh shares were traded in the counter as average daily volume of 41,936 shares in the past one quarter.
The stock was volatile. The stock lost as much as 2.72% at the day's low of Rs 262.85 so far during the day. The stock rose as much as 2.7% at the day's high of Rs 277.50 so far during the day, which is also its record high for the counter. The stock hit a 52-week low of Rs 152.60 on 5 November 2012.
The stock had outperformed the market over the past one month till 31 October 2013, surging 17.25% as compared to the Sensex's 9.21% rise. The scrip had also outperformed the market in the past one quarter, jumping 32.26% compared with the Sensex's 9.4% rise.
The large-cap company has an equity capital of Rs 58.79 crore. Face value per share is Re 1.
Motherson Sumi Systems' consolidated EBITDA (earnings before interest, taxation, depreciation and amortization) surged 76% to Rs 691 crore in Q2 September 2013 over Q2 September 2012.
The company's net debt as on 30 September 2013 stood at Rs 4572 crore, up from Rs 4310 crore as on 31 March 2013.
Motherson Sumi Systems' board of directors at a meeting held today, 1 November 2013, recommended the issue of bonus shares in the ratio of 1:2 i.e. one bonus share against two existing equity shares subject to the approval of the shareholders.
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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