India's Motherson Sumi Wiring declines after Q2 profit fall

Motherson Sumi Wiring India

11/11/2024 06:40

** Shares of Motherson Sumi Wiring India  MSWI.NS  fall 4%
to 61.4 rupees after the automobile parts maker reports decline
in Q2 profit
    ** Co on Friday posted profit of 1.52 billion rupees ($18
million), down 2.4% YoY
    ** Expenses surge 12% to 21.28 bln rupees, while total
revenue rose 10% to 23.26 bln rupees
    ** Analysts' avg rating on stock is "buy," same as that on
peer Sona BLW Precision Forgings  SONB.NS 
    ** Their median PT on MSWI is 74 rupees - LSEG
    ** Stock trims YTD gains to 1.3% vs 9% gain in Sona BLW
Precision

($1 = 84.3775 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)
 ((mailto:aleefjahan.cs@thomsonreuters.com))