Motherson Sumi surges 4 per cent on back of bonus share recommendation

The stock of Motherson Sumi Systems was buzzing on the bourses on Friday as the company's board considers issuing bonus share.
 

The Board of Directors held a meeting on Friday in which they will recommend an issue of bonus shares in the ratio of 1 bonus share for every 2 equity shares of the company, said the company in filing to the exchange. This recommendation has been presented to the existing shareholders of the company for approval.

On December 20, 2017, the share reached its 52-week high of Rs. 395 while on June 28, 2018, the share reached its 52-week low of Rs. 274.50. The 12-month trailing (TTM) EPS was at Rs. 4.16 per share in June, 2018.

On Friday, share closed at Rs. 303.50 on the BSE and at Rs. 303.15 on the NSE. The consolidated P/E ratio stands at 36.26 as against the industry P/E of 68.78, while the P/B ratio is 4.97. The company has reported a dividend yield of 0.74 per cent.