Motherson Sumi, IndusInd Bank stocks gain after foreign brokerage view

Motherson Sumi shares soared after the global brokerage firm Credit Suisse retained its positive stance on the stock, citing attractive valuations and expected growth going ahead.

Jun 12, 2019 06:06 IST India Infoline News Service

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Shares Motherson Sumi Systems soared 3% on Wednesday after the global brokerage firm Credit Suisse retained its positive stance on the stock, citing attractive valuations and expected growth going ahead.

As per media reports, Credit Suisse sees little scope for further de-rating in both. In case of Motherson, the brokerage sees normalisation from the second half of FY20, which should help margin, the media report added.

Shares of IndusInd Bank rose after media report stated that the global brokerage firm Deutsche Bank retained buy call on the stock. The brokerage firm said it sees 20% potential upside given attractive valuations.

Deutsche expects the bank to deliver a 2% return on assets and a 20% return on equity in FY21. "IL&FS issue is recognised and other credit-risk should gradually reduce," the media report added.

Stock view:
Motherson Sumi Systems Ltd is currently trading at Rs121.80, up by Rs3.75 or 3.18%, from its previous close of Rs118.05 on the BSE. The scrip opened at Rs119 and has touched a high and low of Rs122.50 and Rs118.90, respectively.

IndusInd Bank Ltd is currently trading at Rs1,593.20, up by Rs5.95 or 0.37%, from its previous close of Rs1,587.25 on the BSE. The scrip opened at Rs1,594 and has touched a high and low of Rs1,601.75 and Rs1,582.65, respectively.

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