Mehraboon Irani of Nirmal Bang Securities is positive on Motherson Sumi Systems and feels that the stock may test Rs 500 in the next 15-18 months.
Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, " Motherson Sumi 's numbers were slightly disappointing to people who always discount present number into the stock prize mainly because of the Indian operation. If you look at it properly Indian operation there was wage increase and there was start up cost for the new capacity, but going ahead the Smc-Sme operations largely stable for the company. New orders, execution of new orders and most important is entering the new lucrative market of the US that could be a big positive for Motherson Sumi."
"In last 25 months two bonus issues, at Rs 350 I remain very positive and this stock if you give a prize of Rs 500 maybe in the next 15-18 months which is distinctly possible. This is a stock which should be a part of a good portfolio and the story for Motherson Sumi has just started 12 months ago and it has a long way to go," he added.
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