2:5 Bonus: Buy Auto Ancillaries Stock Amid Growing Buying Interest, TP Rs 140: Dividend Soon

Motherson Sumi Wiring India Ltd shares witnessed surge of 3.05% in trade today to 70.90 per share on BSE. Motherson Sumi shares soared 4.92% in last 1-week amid growing buyer interest. The company operates in Auto Components & Equipments. Brokerage firm LKP Securities has recommended buy call to Motherson Sumi Wiring share with target price of Rs 130-Rs 140 apiece. The analyst has urged to keep the stop loss at Rs 116 apiece and recommended the buying range at Rs 123 per share. Motherson Sumi Wiring has a market capitalisation of Rs 31,672.82 crore. More details given below:

Motherson Sumi Wiring To Consider Dividend On May 16: As per the regulatory filing of the company, "a meeting of the Board of Directors of Motherson Sumi Wiring India Limited is scheduled to be held on Thursday, May 16, 2024, inter-alia, to consider and approve the audited financial results for the quarter and financial year ended March 31, 2024 and to recommend dividend, if any. A presentation on the audited financial results of the company for the quarter and financial year ended March 31, 2024 shall be made on the same day after the meeting."

LKP Securities Recommends Buy: According to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, Samvardhan Motherson share is highlighting signals of a potential breakout and formed a bullish diamond pattern on the daily chart. In last few days, the stock witnessed surge in trading volumes, highlighting rising buyer interest at lower levels. Additionally, a positive crossover in the momentum indicator RSI supports this bullish momentum, pointing to a favorable outlook in the short term.

Motherson Sumi Wiring Share Performance & Return: The 52-week high price of Motherson Sumi Wiring shares on BSE is Rs 74.80 per share (as on 06/02/2024) and 52-week low price is Rs 49.53 per share (as on 20/04/2023), respectively. Motherson Sumi Wiring shares 15% in last 1-months, soared 14% in last 6-months, rallied 42% in last 1-year, and gained 38% in last 2-years.

Motherson Sumi Wiring Dividend History: Motherson Sumi Wiring India announced 2 dividends since August 12, 2022. In last 12 months, Motherson Sumi Wiring India announced an equity dividend amounting to Re 0.65 per share. At the current share price of ₹70.90, Motherson Sumi Wiring offers a dividend yield of 0.91%.

Motherson Sumi Bonus History: Motherson Sumi Wiring India offered 1 bonus issue since November 16, 2022. The last Bonus that Motherson Sumi Wiring India declared was in the ratio 2:5 with ex-date fixed as November 16, 2022.

Disclaimer:

The stock has been picked from the brokerage report of LKP Securities. 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.