Minda Industries (MIL) has been on an interesting run in the past one month. The scrip jumped 75.83 per cent from Rs 160, a month ago to a life-time high of Rs 293.35. The scrip had surged about 25 per cent in less than a week. | |
| In today's trade, the price was up 5.55 per cent from Rs 266.70 to Rs 281.50. The analysts are of the opinion that the scrip holds more potential and has a long way to move. |
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| Minda Industries, which has around 60 per cent market cap in the domestic automotive switches space, is poised for significant growth in exports. |
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| The company currently supplies its products to the entire two-wheelers and selected tractors in the country. It has a manufacturing facility at Gurgaon and employs around 400 people. The company's new joint venture with the Italian company Fiamm SpA, is also expected to add on to its international prospects. |
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| MIL's foray into the four-wheeler space has also increased its future prospects. The company has also signed a venture with Tokai Rika Company Limited, Japan and Sumitomo Corporation, Japan to produce automotive switches for four-wheeler vehicles. It also signed a JV with TYC Brother Industrial Company Limited, Taiwan, to produce automotive lighting. |
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| The projected valuations of the company for the next two years, looks good. |
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