Saturday , October 19 2019
Breaking News
Home / BUSINESS / EQUITIES / Minda Industries moves up on the bourses

Minda Industries moves up on the bourses

Minda Industries is currently trading at Rs. 343.60, up by 3.15 points or 0.93% from its previous closing of Rs. 340.45 on the BSE.

The scrip opened at Rs. 343.05 and has touched a high and low of Rs. 346.40 and Rs. 340.00 respectively. So far 1402 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 392.45 on 18-Apr-2019 and a 52 week low of Rs. 256.30 on 11-Feb-2019.

Last one week high and low of the scrip stood at Rs. 347.10 and Rs. 320.35 respectively. The current market cap of the company is Rs. 9009.77 crore.

The promoters holding in the company stood at 70.79%, while Institutions and Non-Institutions held 16.07% and 13.14% respectively.

Minda Industries (MIL) has entered into definitive agreement with Shareholders of Germany based Automotive Lamps engineering, design company & testing, Delvis Gmbh, to acquire 100% interest in the company. The enterprise value of the company along with its two subsidiaries Delvis Solution and Delvis Products is around Euro 21 million, subject to adjustments, if any, at closing. The transaction is subject to customary closing conditions and other regulatory approvals. The transaction is expected to be concluded in next two months. The transaction will be funded by mix of debt and equity.

Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.