Motherson Sumi Wiring India jumps on bonus issue plan

Motherson Sumi Wiring India

28/09/2022 05:27

** Shares of Motherson Sumi Wiring India  MSWI.NS  rise as
much as 6.5% to 89.80 rupees, mark sharpest intraday pct gain
since Sept. 8
    ** Stock touches highest level since Sept. 21
    ** Co on Tuesday said board will meet on Sept. 30 to
consider a proposal to issue bonus shares  urn:newsml:reuters.com:*:nFWN30Y0CX
    ** MSWI is engaged in supply of wiring harnesses to Indian
auto makers
    ** More than 4.3 mln shares change hands by 0414 vs 30-day
avg of 7.8 mln shares
    ** 6 of the 9 analysts covering the stock have a "buy" or
"strong buy" rating, 1 has "hold" while 2 rate it at "sell";
median PT is 84.50 rupees - Refinitiv data
    ** Stock up 36.08% from its listing in March, as of last
close
 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))