Minda Corporation inches up on investing Rs 15 crore in SMGM
Minda Corporation is currently trading at Rs. 581.00, up by 1.00 points or 0.17% from its previous closing of Rs. 580.00 on the BSE.
The scrip opened at Rs. 583.00 and has touched a high and low of Rs. 585.20 and Rs. 573.60 respectively. So far 2801 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 652.90 on 26-Aug-2024 and a 52 week low of Rs. 366.95 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 585.20 and Rs. 526.30 respectively. The current market cap of the company is Rs. 13825.96 crore.
The promoters holding in the company stood at 64.84%, while Institutions and Non-Institutions held 26.41% and 8.75% respectively.
Minda Corporation has invested in 1,50,00,000 equity Shares of Spark Minda Green Mobility Systems (SMGM), the wholly owned subsidiary of the Company for an amount of Rs 15 crore by way of subscription to rights issue of Rs 10 each.
Investment has been done for general business purposes and running the operation of SMGM. Investment will enable the SMGM to run its business smoothly. There will be no change in shareholding of the company in SMGM. SMGM will continue to remain a wholly owned subsidiary of the company.
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.
