MARKET EYE-India's Motherson shares gain on earnings, stake sale

Wed Feb 13, 2013 11:41am IST

Related Topics

Stocks

   

* Shares in India's Motherson Sumi Systems Ltd gain
5.15 percent, a day after posting a recovery in earnings and
ahead of a planned stake sale that traders say could happen at a
premium.
* The  auto parts maker said on Tuesday it would issue 4.4
million shares to institutional investors, on the same day when
it reported swinging to a net profit from a net loss a year ago,
and posting a 74 percent surge in sales. 
 
* "We take comfort in the management's good track record," UBS
said in a note on Tuesday, noting factors such as improved
productivity and higher utilisation ratios would lead to further
gains in the shares. 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage