Auto ancillary maker, Motherson Sumi witnessed heavy volumes and surged on the back of impressive September quarter numbers. Around 95 thousand shares were traded and the scrip jumped 7.27 per cent to close at Rs 98.85. Over the past month, the scrip witnessed selling pressure on apprehensions ahead of results.
However, sales have registered stunning Y-o-Y increase of 82.5 per cent to Rs 283.2 crore. Net profits jumped by 47.5 per cent to Rs 27.6 crore. During the quarter,the company acquired UK based wiring harnesses and related products manufactures ASL Systems.
Motherson Sumi makes integrated wiring harness and is the market leader in electrical distribution systems in India.
Source : Business Standard (Online Edition)
(11/8/2006)
