MOTHERSON SUMI Pick up the stock for the long term

There has been a buzz around this stock for some time now, in anticipation of it completing the acquisition process of Visicorp. Well, it was finally done on 16th March and since yesterday, profit booking has once again come into the stock and it has now settled back in the Rs.50’s levels.
The company, through its JV - Samvardhana Motherson Finance acquired one of the world's leading manufacturers of automotive exterior mirrors, Visiocorp for Rs 176 crore. The acquisition will help Motherson Sumi Group to offer entire range of automotive parts, which would include rear view mirrors, to the global customer base. Only, the auto sector, globally has hit the brakes for now.
For the third quarter ended 31st Dec 2008, the net sales of the company dropped 11% on a QoQ while it rose marginally by 8% on a YoY at Rs.557 crore.The company had a forex loss of Rs.6.96 crore for the quarter.

Pick up the stock for the long term on declines. thanks