Motherson Sumi Wiring India shares jump 13 per cent on Q2 results
The auto ancillary company reported a 35 per cent year-on-year rise in net profit for the July-September quarter.
Motherson Sumi Wiring India shares rose 13 per cent during Monday's trading session on the NSE after the company announced its July-September quarter results for FY27, according to Mint.
The stock opened at ₹38 per share, up from the previous close of ₹35.14 on Friday, and reached an intraday high of ₹39.82 on 2 November.
The company reported that its net profit for the second quarter reached ₹223 crore, a 35 per cent increase from the ₹165 crore recorded in the same period last year.
Revenue from operations grew 47 per cent year-on-year to ₹4,504 crore, up from ₹2,752 crore in the previous year's corresponding quarter.
Motherson Sumi Wiring India Chairman Vivek Chaand Sehgal said the performance showed sustained customer confidence and strong execution. He attributed growth to higher customer volumes and participation in new model launches for both electric vehicle (EV) and internal combustion engine (ICE) platforms.
Brokerage firm Elara Securities upgraded the stock to 'buy' with a target price of ₹42. Meanwhile, Ekay Global retained its 'buy' rating but reduced its target price to ₹45 per share.