Motherson Sumi Surges After Securing First Order From Boeing

Shares of Motherson Sumi Systems rose over 5%, the most in seven sessions, after the company bagged its first order from Boeing.

• The order pertains to the manufacture of aftermarket molded polymer parts for commercial airplane interiors.
• The order will commence from Q3FY2023 and production will be done from the company’s Noida plant.
• Trading volume on the stock was thrice the 30-day average volume at this time of the day.
• Of the 31 analysts tracking the company, 20 maintain ‘buy’, eight suggest ‘hold’ and three recommend ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 40.3%.

Anupam Rasayan Surges As Jefferies Initiates Coverage With ‘Buy’

Shares of Anupam Rasayan gained nearly 5.5%, the most in seven sessions after Jefferies initiated coverage on the stock with a ‘buy’ recommendation.

• Jefferies has fixed the price target at Rs 1,040, an implied upside of 20.31%.
• Jefferies believes that Anupam Rasayan is well-placed to gain from ‘China + 1’ play due to its diversified chemistry expertise and wide customer base.
• The brokerage expects 33% revenue CAGR over FY22-24E due to new orders and new molecules commercialised.
• Trading volume on the stock was nearly 3.5 times the 30-day average volume at this time of the day. Of the seven analysts tracking the company, six maintain ‘buy’ and one suggests ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 20.8%.

Air Passenger Numbers To Surpass Pre-Covid Levels In A Year, Says Minister Of Civil Aviation

Air passenger numbers are likely to surpass pre-covid levels in a year, says Union Minister of Civil Aviation Jyotiraditya Scindia

• Passenger throughput in India is likely to reach 41 crore by FY2024-25.
• India needs to add more widebody aircraft.
• India aims to add 110-120 planes a year going forward.
• India to approve 15 new flight schools.

Source: Bloomberg

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