Dont miss action on this low-priced stock as its likely to announce bonus shares soon!
The stock is up by a staggering 41 per cent on a YTD basis and thereby, outperformed the broader markets.
The equity shares of Motherson Sumi Wiring India Ltd (MSWIL) got listed post demerger on the bourses in the latter part of the month of March this year. MSWIL was formed after the domestic wiring business was demerged from Motherson Sumi Systems Limited.
Motherson Sumi Wiring India is a joint venture with Sumitomo Wiring Systems Ltd, a global leader in the manufacture of wiring harnesses, harness components, and other electric wires.
The company’s board meeting is scheduled to be held on Friday (September 30) to consider the proposal for the issuance of bonus shares to the equity shareholders of the company.
The stock jumped over 3 per cent in an otherwise highly volatile market. Moreover, most of the action in the stock was witnessed in the second half of the trading session. The stock is up by a staggering 41 per cent on a YTD basis and thereby, outperformed the broader markets.
It is trading just 7 per cent away from its 52-week high, which was hit earlier this month.
Could the bonus announcement trigger a decent rally in the stock price or will it reclaim its 52-week high? Only time will tell!
However, traders and investors should keep this stock on their watchlist!