ICICI Direct has given Hold recommendation for Motherson Sumi with a target price of Rs. 270 in its research report issued on Jan 10, 2022
ICICI Direct’s research report on Motherson Sumi
Motherson Sumi (MSSL) primarily serves global PV & CV industry with a history of successful turnarounds in acquisitions and inorganic-led growth. • Post restructuring, new entity (SAMIL) revenue mix as of H1FY22 is: wiring harnesses: 30%, vision systems (mirrors): 18%, plastic body parts (polymer & modules): 48% with rest at ~4% also includes non-automotive sales • The company has a largely EV immune product profile.
We value the combined entity post-merger of erstwhile SAMIL into MSSL at Rs 270/share on SOTP basis. Consequently, our target for individual entities i.e. DWH and new SAMIL (ex-DWH) is at Rs 70/share and Rs 200/share, respectively.
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At 16:00 hrs Motherson Sumi Systems was quoting at Rs 239.95, up Rs 1.20, or 0.50 percent.
It has touched an intraday high of Rs 245.65 and an intraday low of Rs 238.95.
It was trading with volumes of 347,959 shares, compared to its thirty day average of 369,982 shares, a decrease of -5.95 percent.
In the previous trading session, the share closed up 2.60 percent or Rs 6.05 at Rs 238.75.
The share touched its 52-week high Rs 269.00 and 52-week low Rs 143.35 on 03 June, 2021 and 01 February, 2021, respectively.
Currently, it is trading 10.8 percent below its 52-week high and 67.39 percent above its 52-week low.
Market capitalisation stands at Rs 75,774.63 crore.