Motherson Sumi recommends bonus issue of 1:2

Motherson Sumi Systems on Friday informed that the board of directors of the company at its meeting held on May 19, 2017, have recommended the issue of bonus shares in the ratio of 1:2, subject to the approval of shareholders.

May 19, 2017 07:05 IST India Infoline News Service

Motherson Sumi Systems on Friday informed that the board of directors of the company at its meeting held on May 19, 2017, have recommended the issue of bonus shares in the ratio of 1:2, subject to the approval of shareholders.
 
The company posted a consolidated net profit of Rs 705.86 crore for the quarter ended March 31, 2017, as against Rs 587.19 crore for the same quarter in the previous year.
 
The board also recommended a dividend of Rs 2 per equity share (face value of Rs 1 each) for the financial year ended March 31, 2017.
 
Meanwhile, Motherson Sumi Systems is trading flat at Rs 408 per share at 12:40 hours IST. It hit a high of Rs 419.70 and a low of Rs 402 so far during the day.
 

Stock View:
 
Motherson Sumi Systems Ltd is currently trading at Rs 415.7, up by Rs 7.75 or 1.9% from its previous closing of Rs 407.95 on the BSE.
 
The scrip opened at Rs 419.7 and has touched a high and low of Rs 419.7 and Rs 402 respectively. So far 3451797(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 57257.4 crore.
 
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 421 on 16-May-2017 and a 52 week low of Rs 255.4 on 24-May-2016. Last one week high and low of the scrip stood at Rs 421 and Rs 402.25 respectively.
 
The promoters holding in the company stood at 63.1 % while Institutions and Non-Institutions held 26.6 % and 10.3 % respectively.
 
The stock is currently trading above its 50 DMA.

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