Minda Corporation Limited witnessed a surge in its share price, reaching a 52-week high of Rs 307.75 on July 11, following the announcement of securing a significant contract worth Rs 750 crore from a leading Original Equipment Manufacturer (OEM). The contract entails the production of battery chargers for electric vehicles (EVs) and will be carried out at Spark Minda Green Mobility Systems Private Limited, a wholly owned subsidiary of Minda Corporation, located in Pune.
Aakash Minda, Executive Director of Minda Corporation, expressed his enthusiasm regarding the prestigious order, highlighting the company's robust EV product portfolio and customer-centric approach. He emphasized the milestone as a testament to Minda's commitment to promoting sustainable mobility and adapting to the evolving demands of the global automotive industry. In the previous financial year, electric vehicles accounted for nearly 20 percent of the total orders won by Minda Corporation.
As a leading automotive component manufacturer with a strong presence in India and a significant international footprint, Minda Corporation boasts a diversified product portfolio encompassing Mechatronics, Information and Connected Systems, Plastic and Interiors, Electronic Manufacturing Excellence, and Spark Minda Green Mobility for auto OEMs.
At 10:26 am, Minda Corporation shares were trading at Rs 301.80, up Rs 10.30 or 3.53 percent on the Bombay Stock Exchange (BSE). The company's stock price surge reflects the market's positive response to its recent contract win.
