Auto Ancillaries Stock Announces Bonus Issue, Buy For Target Price Of 105: ICICI Direct

Motherson Sumi Wiring India Ltd has announced bonus share today in the ratio of 2:5 which implies that shareholders will get 2 bonus shares for every 5 shares held. The company has a market capitalization of Rs 27,616.13 crore at the time of writing the story. Check key takeaways below:

Motherson Sumi Wiring India Announces Bonus Issue In 2:5 Ratio

The board of director of Motherson Sumi stated in regulatory filing, "In furtherance to our letter dated September 27, 2022, please note that the Board of Directors of the company in its meeting held today i.e September 30, 2022 has subject to the approval of the Shareholders of the company: (1) Approved increase in Authorised Share Capital of the company from INR 333,00,00,000 to INR 900,00,00,000 and (2) Recommended issue of Bonus shares in the ratio of 2 (Two) bonus (fully paid up) Equity Shares against 5 (Five) Equity Shares of Re. 1/- each held in the company.

Motherson Sumi Wiring India Stock Outlook

The current market price of the stock is Rs 87 apiece with an intraday gain of 0.52%. The stock's 52-week high is Rs 94 apiece and 52-week low is Rs 56 apiece, respectively.

Motherson Sumi Wiring India Return

The stock has given a 1-year return of 41%, 6-months return of 42%, and 3 months return of 24%.

Motherson Sumi Wiring India Market Capitalisation

The company has a market capitalisation of Rs 27,616.13 crore.

ICICI Direct Gives Buy Call

ICICI Direct in its latest report dated September 28, 2022 has recommended investors to buy the stock with a target price of Rs 105 and a potential return of 21%.

Motherson Sumi Wiring India About

Motherson Sumi Wiring India Limited is a leading and fast-growing full-system solutions provider to OEMs, in the wiring harness segment in India. The journey started in 1986 when Motherson Sumi Systems Limited (MSSL) was established as a joint venture with Sumitomo Wiring Systems (SWS), Japan; this was followed by a listing in 1993 on stock exchanges
in India.

Motherson Sumi Wiring India Limited was established as a result of the demerger of the wiring harness business of India from its parent company Motherson Sumi Systems Limited (MSSL).

 

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.