Motherson Sumi share hits 52-week high after profit zooms 289% in Q4
Motherson Sumi share hit a fresh 52-week high on Wednesday after the firm reported a 289 per cent year-on-year rise in its consolidated net profit in Q4. Net profit in Q4 rose to Rs 714 crore in last quarter against Rs 183.4 crore profit in corresponding quarter of last fiscal.
The share hit a fresh high of Rs 264.4 today rising 11.37% against previous close of Rs 237.40 on BSE.
Motherson Sumi share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap share has gained 161.58% in one year and risen 61.35% since the beginning of this year.
In a month, the stock has gained 24.18%. Market cap of the firm rose to Rs 83,764 crore on BSE. Revenue from operations climbed 17.6 per cent year-on-year to Rs 16,971.9 crore, which came slightly higher than analysts’ estimates.
Board of the firm also approved a final dividend worth Rs 1.5 per share for the financial year ended March, 2021.
‘Recommended a dividend of ?1.50 (Rupee One and Fifty Paisa) per equity share (face value of Re. 1/- each) for the financial year ended March 31, 2021 on the Equity Share Capital of the Company, subject to the approval of the shareholders at the ensuing 34th Annual General Meeting,” the company said in a filing.
Source: https://www.businesstoday.in/markets/company-stock/motherson-sumi-share-hits-52-week-high-net-profit-zooms-q4/story/440641.html
