Motherson Sumi climbs as BofA raises target price to Rs 311 - The New Indian Express

Motherson Sumi climbs as BofA raises target price to Rs 311

Published: 02nd April 2014 01:19 PM

Last Updated: 02nd April 2014 01:19 PM

Motherson Sumi Systems, flagship company of the Samvardhana Motherson Group, climbed on Wednesday after global investment firm, Bank of America-Merrill Lynch raised its target price on the the stock to Rs 311 from Rs 248 while maintaining its 'buy' rating. Shares ofthe companyare trading at Rs 267.50, up Rs 10.75, or 4.19% at the Bombay Stock Exchange (BSE) on Wednesday at 12:12 p.m.The scrip has touched an intra-day high of Rs 277 and low of Rs 260.05. The total volume of shares traded at the BSE is 393,937.In the earlier session, the shares climbed 0.33%, or Rs 0.84, at Rs 256.75. Currently, the stock is trading all time 52-week high, which is above 131.06% over the 52-week low of Rs 115.77.

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