Stock to Buy: It will share the cheaper from ₹ 50, earnings, company sells goods to Maruti and Tata Motors

New Delhi. The Indian stock market closed firmly for the second consecutive day on August 19. The government’s preparation to cut GST rates put wings to the market. In this positive atmosphere, brokerage house Nuwama Institutional Equalities has advised investors to buy Madrasan Sumi Wiring India (MSWIL) shares. The company’s client list includes veteran names like Maruti-Suzuki and Tata Motors. Today, the shares of Mother’s Sumi Wiring India rose by more than 6 per cent and it closed at Rs 41.99 on NSE. The stock has climbed more than 10% in the last one week. However, a decline of 4% was recorded in a month.

In the last three months, the Madrasan Sumi Wiring India share is about 10% up, while in six months it rose by 26.37%. The stock broke 13% in a year, but gave 5% in two years and 12% in three years. The 52-wheel high of the stock is ₹ 48.72 and low ₹ 30. Promoters share in the company 61.73%.

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Mother’s Sumi Wiring India share target price

Nuwama Institutional Equities have fixed the target price of Madrasan Sumi Wiring India share ₹ 57. It is about 43% more than today’s closed price. Brokerage says that Brokerage says that the total revenue of three greenfield plants is Rs 2,100 crore. Pune and Navgam plants have been launched and they are being slowly brought to the entire capacity. The Kharkhauda plant will begin in the second quarter of the current financial year. These two plants are supplying high and low voltage harness to Maruti Suzuki, Tata Motors and M&M.

Brokerage says that the Auto Component sector has a tough fight against veteran companies like Yazaki and APTIV. Despite this, Mother’s Sumi Wiring India has an increase in cost structure due to a big scale. Nuwama estimates that due to the ramp-up of Greenfield plants, the company’s revenue between FY25 to FY28 may grow at a rate of 13% and Ernings at 19%.

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