Street View - India's Samvardhana Motherson set for non-core business boost
BUZZ-Street View - India's Samvardhana Motherson set for non-core business boost ** Shares of India's Samvardhana Motherson International SAMD.NS jump 8.5% to 168.18 rupees
** Auto-parts maker posts 53.9% y/y rise in Q1 adjusted profit, helped by improved margins and stronger demand for automotive components
NON-CORE EXPANSION OVERCOMES VALUATION CONCERNS
** Nomura ("Buy", PT: 171 rupees) says steady earnings growth should continue, driven by strong expansion in non-auto businesses and acquisition-led growth
** J.P. Morgan ("Overweight", PT: 170 rupees) says acquisitions and emerging businesses should help co outgrow the global auto market
** Jefferies ("Buy", PT: 190 rupees) says electronics, aerospace and recent acquisitions provide growth drivers, with North American commercial vehicle demand also improving, despite near-term commodity pressures
** Kotak Institutional Equities ("Sell", PT: 135 rupees) says medium-term growth drivers remain intact, but expensive valuations and near-term profitability uncertainty warrant caution
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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Street View - India's Samvardhana Motherson set for non-core business boost