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HomeSTOCKS₹70 Auto Stock; Rapid Expansion Is Taking Place Regarding Electric Vehicles

₹70 Auto Stock; Rapid Expansion Is Taking Place Regarding Electric Vehicles

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Auto Stocks to BUY: The stock market is near record high levels. The outlook of the auto sector looks quite strong. Recently, the brokerage met the management of auto auxiliary company Motherson Sumi Wiring India Ltd (NSE: MSUMI) Wiring, after which a new target was given. 

The brokerage said that this company is working with many OEMs. Rapid expansion is also taking place regarding electric vehicles. The growth outlook is strong. This share closed at Rs 70 with a rise of 3 percent. It has given a return of 40 percent in 1 year.

Motherson Sumi Wiring Share Target

Domestic brokerage firm has advised to buy in Motherson Sumi Wiring. The target price was set at Rs 85. This share is currently trading at Rs 70.

Motherson Sumi Wiring shares have risen by over 8 percent in the last week. The stock has been rising continuously for 8 days. 

In this rise, it reached Rs 7 from Rs 60. If you want to make fresh purchases then wait for the correction which will give lower prices.

Why Buy Advice From Motherson Sumi?

In its report, the brokerage said that there is OEM’s focus on localization which will benefit this company. The growth of passenger cars is directly related to its growth.

However, the demand in the passenger vehicle segment is slightly moderate. Apart from this, the market is also changing rapidly due to electric vehicles. 

In such a situation, the brokerage’s rating remains BUY. The target price has been maintained at Rs 80, a multiple of 30 times FY26 estimated earnings (P/E).

Motherson Sumi Share Price History

Motherson Sumi’s share is at the level of Rs 70. The 52-week high is Rs 75, which is also the all-time highest. The 52-week low is Rs 48.

The stock price has been steadily rising for the past 8 days. In this rise, it reached from Rs 61 to Rs 71. 

This increase was about 15 percent. The stock has risen 8 percent in the last week, about 15 percent so far this year, and more than 40 percent in a year.

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. We are here to provide timely updates about the stock market and financial products to help you make better investment choices.

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