Shares of Motherson Sumi Systems added 1.5 percent intraday Thursday as global research firm HSBC has maintained buy rating on the stock.
The firm has maintained buy call on the stock with a revised target price of Rs 365 from earlier Rs 333 per share.
The arms have an account of 16-21 percent of the net profit, as per the HSBC's analysis.
Further, it expects core business is likely to continue to grow on more complexity in auto components.
At 11:24 hrs Motherson Sumi Systems was quoting at Rs 339.20, up Rs 3.65, or 1.09 percent on the BSE.
The share touched its 52-week high Rs 349.20 and 52-week low Rs 204.68 on 20 September, 2017 and 15 November, 2016, respectively.
The share rose more than 58 percent in the last 9 months.
Posted by Rakesh Patil
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