Siddhartha Khemka Recommends: BUY Motherson Sumi Wiring India share - check price target

Siddharth Khemka recommended buying Motherson Sumi Wiring. He has set a target price of Rs 110 per share.

As per the expert, Motherson Sumi Wiring has a share of 40 per cent of the market. (Representative image from Pixabay)

Zee Business expert Siddhartha Khemka Recommends: Head of Research (Retail) at Motilal Oswal Financial Services Ltd and ZEE Business panelist Siddhartha Khemka on Wednesday recommended buying Motherson Sumi Wiring India.

Motherson Sumi Wiring India (NSE: MSUMI) is a domestic player which gets 95 per cent revenue from India. It's among the market leaders in the Indian wiring industry.

As per the expert, Motherson Sumi Wiring has a share of 40 per cent of the market. This will also benefit from the emerging trend of electrical vehicles in India. It has healthy financials, high margins, and healthy asset turnover, as per the experts. The stock is seeing an uptrend and support is gradually shifting upwards.

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Siddharth Khemka recommended buying Motherson Sumi Wiring. He has set a target price of Rs 110 per share.

Motherson Sumi Wiring India's share price on Wednesday gained marginally to end at Rs 85.95 apiece on the NSE. In past month, the counter has yielded a negative return of around 6 per cent while it has delivered a stellar return of over 17 per cent in the last 6 months. Motherson Sumi Wiring India's stock 52-week range is Rs 94.05 - Rs 56.

Earlier this month, Motherson Sumi Wiring India had announced that its Board of Directors has recommended the issuance of bonus shares in the ratio of 2:5. This means, an eligible shareholder will get two bonus shares on five existing shares. The bonus issue is subject to approval by the company shareholders.

"Recommended issue of Bonus shares in the ratio of 2 (Two) bonus (fully paid up) Equity Shares against 5 (Five) Equity Shares of Re 1/- each held in the company," the company said in a regulatory filing.

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