Motherson Sumi Wiring India rises after block deals

Motherson Sumi Wiring India

23/05/2023 10:36

** Shares of Motherson Sumi Wiring India Ltd  MSWI.NS  rise
as much as 3.27% to 56.90 rupees, hitting their highest level
since Jan. 6
    ** Over 13 mln shares change hands in four blocks at a price
in the range of 56-56.25 rupees
    ** Co had last week reported near three-fold jump in Q4
profit on recovery in the automotive industry and operating
efficiencies  urn:newsml:reuters.com:*:nFWN37G018
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** Stock witnessing its most active trading session since
Jan. 13
    ** More than 24 mln shares change hands by 2:44 p.m. IST,
4.8x 30-day avg of 5 mln shares
    ** Nine of the 11 analysts covering stock have a "buy" or
"strong buy" rating while 2 have "sell;" median PT is 63 rupees
- Refinitiv data
    ** Including session's gain, stock trims some of its losses,
last down 3.69% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))