Minda Corporation surges on entering into technical collaboration with Daesung Eltec for ADAS
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Minda Corporation is currently trading at Rs. 193.95, up by 4.40 points or 2.32% from its previous closing of Rs. 189.55 on the BSE.
The scrip opened at Rs. 192.00 and has touched a high and low of Rs. 195.15 and Rs. 191.90 respectively. So far 22616 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 284.45 on 19-Apr-2022 and a 52 week low of Rs. 142.55 on 29-Oct-2021.
Last one week high and low of the scrip stood at Rs. 195.95 and Rs. 189.00 respectively. The current market cap of the company is Rs. 4656.07 crore.
The promoters holding in the company stood at 64.73%, while Institutions and Non-Institutions held 17.65% and 17.62% respectively.
Minda Corporation, the flagship company of Spark Minda, has entered into a technical collaboration with Daesung Eltec, Korea, the leading automotive electronics company to bring the Next Gen Advanced Driver Assistance System (ADAS) solutions to the Indian automotive market. Both companies have signed the Technology Licence and Assistance Agreement (TLA) on October 28, 2022.
This partnership places Spark Minda ahead of technology curve by providing localised ADAS solutions for the Indian market. It also aligns with the company’s vision of becoming a next generation ADAS solutions provider with the technology being inducted into Minda’s capabilities.
Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & Electronic Security System, Door System, Electronic Controllers for Electric Vehicles, Plastic Interiors and for Auto OEM's across the Globe.
