Reuters Market Eye - Shares in Motherson Sumi Systems Ltd
The auto parts maker said on Tuesday it would issue 4.4 million shares to institutional investors, on the same day when it reported swinging to a net profit from a net loss a year ago, and posting a 74 percent surge in sales.
"We take comfort in the management's good track record," UBS said in a note on Tuesday, noting factors such as improved productivity and higher utilisation ratios would lead to further gains in the shares.
(Reporting by Manoj Dharra)
