Minda Industries is currently trading at Rs. 1143.45, up by 8.70 points or 0.77% from its previous closing of Rs. 1134.75 on the BSE.
The scrip opened at Rs. 1180.00 and has touched a high and low of Rs. 1180.00 and Rs. 1134.75 respectively. So far 16901 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1180.00 on 22-Nov-2017 and a 52 week low of Rs. 263.00 on 22-Nov-2016.
Last one week high and low of the scrip stood at Rs. 1180.00 and Rs. 1023.40 respectively. The current market cap of the company is Rs. 9904.04 crore.
The promoters holding in the company stood at 70.95%, while Institutions and Non-Institutions held 15.11% and 13.94% respectively.
Minda Industries has received an approval for further investments in the equity shares of Mindarika, subject to necessary consents/ permissions. The acquisition is expected to be completed by March 31, 2018. The board of directors at its meeting held on November 22, 2017 has approved for the same. Mindarika is engaged in manufacturing of 4 Wheeler switches and supplying its products to OEMs including Maruti Suzuki.
Minda Industries is already holding 27,07,600 equity shares of face value of Rs 10 each representing 27.08% shareholding in Mindarika. The board has approved the matter for making further investments of 23,92,400 equity share of Mindarika at Rs 395.61 per share, based on the Valuation Report of an Independent Valuer, for a total consideration up to Rs 94.65 crore. After the acquisition of the above shares, Mindarika will become a subsidiary of the company.
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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| Bosch | 34335.30 |
| UNO Minda | 1066.90 |
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