Uno Minda surges after its arm inks technical license agreement with Hyundai Mobis
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
UNO Minda is currently trading at Rs. 1153.25, up by 3.55 points or 0.31% from its previous closing of Rs. 1149.70 on the BSE.
The scrip opened at Rs. 1170.85 and has touched a high and low of Rs. 1177.60 and Rs. 1140.00 respectively. So far 13056 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1252.85 on 02-Sep-2024 and a 52 week low of Rs. 551.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1177.60 and Rs. 1044.00 respectively. The current market cap of the company is Rs. 66054.68 crore.
The promoters holding in the company stood at 68.75%, while Institutions and Non-Institutions held 25.05% and 6.20% respectively.
Uno Minda’s subsidiary -- Minda Onkyo India has entered into a Technical License Agreement (TLA) with Hyundai Mobis, Korea on September 25, 2024. The TLA is for manufacturing of licensed products i.e. Speakers.
Earlier, Uno Minda had acquired 2,39,05,819 equity shares i.e., 30% stake of Minda Onkyo India (MOIPL) from Onkyo Sound Corporation, Japan, for a total consideration of Rs 1.53 crore, as per the valuation price of Rs 0.65 per equity share. With this acquisition, the stake of the company in MOIPL stand increased to 80% and MOIPL become a subsidiary of Uno Minda.
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.
