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Minda Industries soars on entering into JVA with Japan based Kosei Group

27 Feb 2015 Evaluate

Minda Industries is currently trading at Rs. 624.00, up by 32.00 points or 5.41 % from its previous closing of Rs. 592.00 on the BSE.

The scrip opened at Rs. 615.00 and has touched a high and low of Rs. 635.00 and Rs. 609.00 respectively. So far 3,137 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 655.00 on 12-Nov-2014 and a 52 week low of Rs. 167.00 on 04-Mar-2014.

Last one week high and low of the scrip stood at Rs. 635.50 and Rs. 581.00 respectively. The current market cap of the company is Rs. 989.00 crore.

The promoters holding in the company stood at 70.90% while Institutions and Non-Institutions held 2.89% and 26.21% respectively.

Minda Industries, a UNO Minda Group, is entering into a Joint Venture Agreement (JVA) with Kosei International Trade and Investment Company, a Kosei Group Company. The Kosei Group is a leading Japanese Alloy Wheel manufacturer.

The proposed plant of the joint venture company will be located at Bawal in Haryana for manufacturing and supply of alloy wheels for passenger vehicles. The proposed shareholding of the Joint Venture Company will be in the ratio of 70:30 i.e. UNO Minda Group 70% and Kosei Group 30%.

The cost of the project is estimated at Rs 200 crore. The commercial production of the plant (first phase) is expected for February, 2016 with a monthly capacity of 60,000 units.

Minda Industries is engaged in the business of manufacturing switches and batteries for 2/3 wheelers and off-road vehicles.

UNO Minda Share Price

1097.30 -12.30 (-1.11%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
View more..

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