India's Samvardhana Motherson falls as analysts flag near-term demand concerns

Samvardhana Motherson International

17/02/2025 08:02

** Shares of auto-parts maker Samvardhana Motherson
 SAMD.NS  slip ~2% to 123.81 rupees 
    ** At least 11 brokerages cut price targets on stock after
Q3 results missed estimates on Friday, hurt by weak global car
sales, per data compiled by LSEG 
    ** Brokerages including J.P. Morgan, Nomura, Citi Research
said global auto demand remains weak in near-term on production
delays, uncertainty around U.S. tariffs 
    ** Investec says co is not "out of the woods yet" as
macroeconomic demand challenges continue 
    ** Some analysts flag positive growth momentum in co's
emerging businesses segment, which includes electronics and
aerospace segments and on management strategy to focus on
acquisitions 
    ** Mean PT of 19 brokerages falls to 162.43 rupees from
179.26 rupees before results - data compiled by LSEG 
    ** Stock down ~21% YTD, it rose 53% in 2024 




 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))