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Motherson Sumi gains 2%, hits 52-wk high as CRISIL reaffirms credit ratings


Shares of Motherson Sumi Systems, on Wednesday, rose 2.4 per cent to hit a fresh 52-week high of Rs 238.20 on the BSE after rating agency CRISIL reaffirmed the company s ratings.
In an exchange filing, the company said that its long-term ratings has been reaffirmed to CRISIL AA+, with Stable outlook from the earlier negative . Short-term ratings has been reaffirmed to CRISIL A1+.
At 11:25 AM, the stock was trading 1 per cent higher at Rs 234.85 as compared to the benchmark Sensex s 0.9 per cent gain. Around 80.8 lakh shares have changed hands on the NSE and BSE, combined, so far.
In Q3FY21, Motherson Sumi Systems consolidated profit after tax (PAT) more-than-doubled to Rs 798 crore from Rs 271 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxes, depreciation, and amortization (Ebitda), meanwhile, grew 56 per cent year on year (YoY) at Rs 2,041, while margins improved 300 basis points (bps) to 11.4 per cent during the quar ....

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what to buy: Expect good growth in auto, auto ancillaries in next 2-3 years: Dipan Mehta


Explore Now
Investors should be equal to overweight in auto, auto ancillaries. The next two, three years could be a good growth phase for the sector as a whole, says
Elixir Equities.
Newer names keep cropping up on the government’s divestment list. Would you wait it out to see how the first divestment pans out?
The entire privatisation is going to be a very interesting process and the last time it was was done was many years ago when the Vajpayee government was there and when they privatised BSNL and Hindustan Zinc. That was a fabulous opportunity for the government to unlock value as well as the acquirer who built a great company thereafter. ....

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