Motherson Sumi Wiring hits 20% upper circuit as stock trades ex-bonus

Shares of Motherson Sumi Wiring in Wednesday's trade hit the 20% upper circuit at Rs 71.15, also its new 52-week high, after the auto components company shares turned ex-bonus.

The company announced bonus share issuance in the ratio of 2:5 on September 30. The record date for the said bonus share issuance is set as November 17.

The auto component manufacturer for the September quarter reported a 2% rise in net profit at Rs 116.45 crore. The company had posted a net profit of Rs 114 crore in the same period last fiscal, (MSWIL) said in a regulatory filing.

Total revenue from operations stood at Rs 1,835.21 crore as against Rs 1,399.95 crore in the year-ago period, it said.

In the last one year, the shares of have corrected by close to 2%.

Of the 11 analyst recommendations on the counter, seven are strong buy ratings, two buy ratings and one hold and one strong sell, Trendlyne data showed.

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