Uno Minda climbs on commissioning two new plants for manufacturing of EV components
UNO Minda is currently trading at Rs. 621.50, up by 37.80 points or 6.48% from its previous closing of Rs. 583.70 on the BSE.
The scrip opened at Rs. 584.00 and has touched a high and low of Rs. 624.55 and Rs. 582.00 respectively. So far 73875 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 624.55 on 16-Aug-2023 and a 52 week low of Rs. 433.00 on 24-Mar-2023.
Last one week high and low of the scrip stood at Rs. 624.55 and Rs. 568.10 respectively. The current market cap of the company is Rs. 35726.57 crore.
The promoters holding in the company stood at 70.05%, while Institutions and Non-Institutions held 23.64% and 6.30% respectively.
Uno Minda has commissioned a new EV systems plant in Farukhnagar, Haryana under the joint venture with FRIWO AG Germany. This new plant would manufacture On-Board Charger, Off-board charger, Motor Control Unit, DCDC converter, Battery Management System, and many more products catering to EV 2wheeler and 3wheeler. Supplies from this plant has already started and is expected to further rampup in coming quarters with start of production (SOP) of more orders received.
In August 2023, Uno Minda commissioned its second new EV systems plant under subsidiary Uno Minda Buehler Motor (UMBM) in Bawal, Haryana. The plant will manufacture traction motors/BLDC motors for EV 2-wheeler and 3-wheeler. UMBM has already received orders from OEMs and is expected to start supplies by Q3 FY24.
Uno Minda (formerly known as Minda Industries) offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.
