Samvardhana Motherson Share Price Soars to New Heights
š The stock market is witnessing a remarkable recovery, with investors’ wealth increasing by Rs 28 lakh crores in the last three business sessions. With the new government coming in, there is hope for a bullish market.
š Brokerages have chosen auto ancillary stock Samvardhana Motherson for short-term investors in the next three months. The stock closed at Rs 156 this week.
š¼ ICICI Direct has recommended buying Samvardhana Motherson shares for the next three months, with a target of Rs 170 and a stop loss at Rs 138. The stock reached a new 52-week high of Rs 159 this week after dropping to Rs 134 on June 4.
š° After a strong sell-off on June 4, there is a good recovery in auto shares and indicators. Samvardhana Motherson shares have doubled a 6-year breakout, giving a signal of structural change.
š¹ The stock has given a return of 3.6% this week, with returns of around 12% in two weeks, 25% in a month, and 32% in three months. The year-to-date return is 48%, and it has been 68% in the last six months. Investors have enjoyed a 95% return in the last year.
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