Minda Industries jumps on getting nod to invest Rs 25 crore in Tokai Rika Minda India

Minda Industries is currently trading at Rs. 881.00, up by 45.90 points or 5.50% from its previous closing of Rs. 835.10 on the BSE.

minda industries reports 39 fall in q4 consolidated profit e1558002092172

The scrip opened at Rs. 882.50 and has touched a high and low of Rs. 906.45 and Rs. 858.40 respectively. So far 33953 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1260.00 on 29-Dec-2021 and a 52 week low of Rs. 562.00 on 26-May-2021.

Last one week high and low of the scrip stood at Rs. 906.45 and Rs. 822.70 respectively. The current market cap of the company is Rs. 23852.16 crore.

The promoters holding in the company stood at 67.47%, while Institutions and Non-Institutions held 22.98% and 9.55% respectively.

Minda Industries has received approval to invest in the equity shares of Tokai Rika Minda India (Tokai Rika Minda) under right issue, aggregating to Rs 25 crore.

Tokai Rika Minda is a Joint Venture between Tokai Rika Co, Japan (TRJ) and Minda Industries in which TRJ holds 70% equity shares and Minda Industries holds 30% of equity shares of the said company, engaged in the manufacturing of safety and security systems, electronic components and automotive switches.

Meeting of the board of directors of the company held on May 24, 2022 has approved the same.

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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