Motherson Sumi Systems Ltd. shares drop 1.16% as Sensex falls

The stock quoted a 52-week high of Rs 151.0 and a 52-week low of Rs 48.5.

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tate-owned Canara Bank invited bids to sell 30 per cent stake in its housing finance subsidiary.
Shares of Motherson Sumi Systems Ltd. traded 1.16 per cent lower in Wednesday's session at 11:54AM (IST). The stock opened at Rs 110.0 and has touched an intraday high and low of Rs 111.85 and Rs 109.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 151.0 and a 52-week low of 48.5. About 299,975 shares changed hands on the counter so far.

Benchmark Nifty50 was down 90.85 points at 11226.50, while the BSE Sensex traded 308.88 points lower at 38056.47 at the time of writing of this report.


In the Nifty pack, 15 stocks traded the day in the green, while 35 were in the red.


Key Financials
For the quarter ended 30-Jun-2020, the company reported consolidated sales of Rs 8431.23 crore, down 43.3 per cent from the previous quarter's Rs 14870.32 crore and down 49.08 per cent from the year-ago quarter. The company reported net loss of Rs 810.45 crore for the latest quarter.
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Promoter Holdings
Promoters held 33.96 per cent stake in the company as of 30-Jun-2020, while FIIs held 15.64 per cent and MFs 10.98 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 106.32 on September 09, while the 50-DMA was at Rs 105.56. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.
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