After receiving an order worth Rs 750 crore from a major OEM to manufacture battery chargers for electric vehicles (EVs), Minda Corporation Ltd.’s shares reached a record high today. The price of Minda Corporation‘s stock increased 5.57% from its previous BSE close of Rs. 291.50 to Rs. 307.75. On the BSE, the stock finished 3.58% higher at Rs 301.95. The price of the Corporation shares has climbed 39% in a year and 47.18% this year.
On March 28, 2023, the stock dropped to a 52-week low of Rs 187. A total of 2.52 lakh shares of the company were traded, resulting in a turnover on the BSE of Rs 7.65 crore. The company’s market value increased to Rs. 7219 crore on the BSE.
Technically speaking, the Corporation’s relative strength index (RSI) is 54.8, indicating that the stock is neither oversold nor overbought at this time. The stock of the Corporation has a one-year beta of 0.9, which denotes modest volatility over that time. The stock is trading above the moving averages of five, ten, twenty, fifty, one hundred, and two hundred days.
What is Minda Corporation saying?
The lifetime value of the order is Rs. 750 crore, according to the business. This significant order reinforces the company’s dedication to sustainable mobility and expands its selection of EV solutions.
“This prestigious order is a testament to Spark Minda’s robust EV product portfolio and our focus on customer centricity,” stated Aakash Minda, Executive Director. This accomplishment demonstrates our dedication to advancing sustainable mobility and our flexibility in responding to the changing needs of the global automotive sector.
One of India’s top manufacturers of automobile components, Minda Corporation has a strong presence across the country and abroad. The business was established in 1985. Mechatronics, information and connected systems, plastic and interiors, electronic manufacturing excellence, and Spark Minda Green Mobility for vehicle OEMs are all included in the company’s diverse product line.
