Motherson Sumi slumps 12%
By
Research Desk
about 9 years ago
Motherson Sumi is a big loser on the bourses today. The stock tanked 12% to Rs.265.60 and it remains very firmly in the red.
This company too is a victim of Brexit. The consolidated FY16 sales of the company shows that 85% of its sales comes from exports and most of its comes from Europe and UK.
One does not know yet what the ramifications of this Brexit will be. Most has assumed that this would not happen and never really assessed the repercussions. So for the company too, it will have to wait and watch and see how this moves. It’s too early to understand what could happen but surely UK going into a recession for a couple of years seems like a given