Uno Minda trades jubilantly on entering into technical license agreement with Suzhou lnovance Automotive
Uno Minda is currently trading at Rs. 989.70, up by 127.05 points or 14.73% from its previous closing of Rs. 862.65 on the BSE.
The scrip opened at Rs. 905.00 and has touched a high and low of Rs. 1018.75 and Rs. 901.55 respectively. So far 137840 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,018.75 on 06-Jun-2024 and a 52 week low of Rs. 545.10 on 08-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1018.75 and Rs. 808.35 respectively. The current market cap of the company is Rs. 57258.76 crore.
The promoters holding in the company stood at 68.76%, while Institutions and Non-Institutions held 24.73% and 6.51% respectively.
Uno Minda has entered into a technical license agreement with Suzhou lnovance Automotive, China (lnovance Automotive) for manufacture and sale of select high voltage category electric vehicle products for passenger vehicle and commercial vehicle in India. The select electric vehicle products include Charging Control Unit (CCU), EV inverter, EV motors and next-generation 3-in-1 electric drive systems (e-Axle).
This partnership will significantly expand Uno Minda's e-4W product portfolio, enabling them to effectively cater to the growing Indian EV market. The company aims to further strengthen the partnership by transitioning it into a joint venture, subject to necessary approvals.
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.
