Moody's Investors Service, ("Moody's") on March 27, 2020 has assigned Ba1 corporate family rating (CFR) to Motherson Sumi Systems Limited (the "Company"). Further, the outlook has been revised to "rating under review" from "negative".
The Rating Rationale disclosed, inter-alia, states that "the rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets. The combined credit effects of these developments are unprecedented. The auto parts supplier sector has been one of the sectors most significantly affected by the shock given its sensitivity to consumer demand and sentiment. More specifically, the weaknesses in Motherson's credit profile, including its exposure to final consumer demand for automobiles, has left it vulnerable to shifts in market sentiment in these unprecedented operating conditions and Motherson remains vulnerable to the outbreak continuing to spread."
Shares of MOTHERSON SUMI SYSTEMS LTD. was last trading in BSE at Rs.63.2 as compared to the previous close of Rs. 65.1. The total number of shares traded during the day was 549790 in over 2909 trades.
The stock hit an intraday high of Rs. 68.9 and intraday low of 62.55. The net turnover during the day was Rs. 36007817.