Minda Industries is currently trading at Rs. 553.50, up by 11.85 points or 2.19% from its previous closing of Rs. 541.65 on the BSE.
The scrip opened at Rs. 560.00 and has touched a high and low of Rs. 563.60 and Rs. 546.50 respectively. So far 2350 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 612.35 on 11-Feb-2021 and a 52 week low of Rs. 218.90 on 30-Mar-2020.
Last one week high and low of the scrip stood at Rs. 591.80 and Rs. 517.00 respectively. The current market cap of the company is Rs. 14896.25 crore.
The promoters holding in the company stood at 70.88%, while Institutions and Non-Institutions held 19.84% and 9.27% respectively.
Minda Industries’ board has approved setting up world class lighting manufacturing plant at Bhagapura, Gujarat to cater to increased demand for 4W automotive Lighting. The business has existing manufacturing facilities at Pune, Chennai and Manesar. The new plant will be in vicinity of key OEM’s hence will also achieve better logistic management. The plant will have state of art manufacturing facilities with unidirectional flow of material, robotic automation for unloading, motorized conveyor system which will result in better operational efficiencies.
The company had augmented its technical capabilities with acquisition of Delvis last year. The company also plans to tap potential export business in Europe and America in future from this plant. Total capital expenditure for this new facility in Gujarat is Rs 90 crore which will be funded through mix of debt and internal accruals. The plant is expected to commence operations by quarter ending March 2022 and will stabilize in subsequent couple of quarters.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
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