Buy Motherson Sumi Systems, target price Rs 147: ICICI Direct

ICICI Direct has buy call on Motherson Sumi Systems with a target price of Rs 147. The current market price of Motherson Sumi Systems is Rs 140.3. Time period given by analyst is 14 days when Motherson Sumi Systems Ltd. price can reach defined target.

Motherson Sumi Systems Ltd., incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 63833.89 Crore) operating in Auto Ancillaries sector.

Motherson Sumi Systems Ltd. key Products/Revenue Segments include Auto Electricals, Sale of services, Traded Goods, Scrap, Other Operating Revenue, Export Incentives and Job Work for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 16240.17 Crore, up 14.66 % from last quarter Total Income of Rs 14163.53 Crore and down -5.35 % from last year same quarter Total Income of Rs 17157.63 Crore. Company reported net profit after tax of Rs 387.30 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to breakout above the last three weeks range and head towards Rs 147 levels in the coming weeks being the measuring implication of the last three weeks range breakout (Rs 138-127) signaling upside towards Rs 147 levels

Promoter/FII Holdings
Promoters held 61.73 per cent stake in the company as of 31-Dec-2021, while FIIs owned 16.43 per cent, DIIs 13.86 per cent.