Minda Corporation drops after huge bulk deal

Minda Corporation lost 4.44% to Rs 102.35 at 15:19 IST on BSE after a huge bulk deal of 1.04 crore shares was executed on the scrip at Rs 104 per share at 12:50 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 370.98 points or 1.29% at 28,297.24

Bulk deal boosted volume on the Minda Corporation scrip. On BSE, so far 1.51 crore shares were traded in the counter as against average daily volume of 35,061 shares over the past one quarter. The stock hit a high of Rs 109.70 and low of Rs 95.75 so far during the day. The stock hit a record high of Rs 143.60 on 12 July 2016. The stock hit a 52-week low of Rs 71.50 on 29 September 2015. The stock had underperformed the market over the past 30 days till 23 September 2016, sliding 7.43% compared with 2.99% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 2.68% as against Sensex's 8.60% rise.

The small-cap company has equity capital of Rs 41.86 crore. Face value per share is Rs 2.

On a consolidated basis, Minda Corporation's net profit rose 22.92% to Rs 24.88 crore on 31.09% rise in total income to Rs 699.46 crore in Q1 June 2016 over Q1 June 2015.

Minda Corporation is a diversified company with a product portfolio encompassing from mechanical and electronic security system, electronic controllers for electric vehicles and for auto OEM's across the globe. It also manufactures die casting parts for auto and consumer durable industry.

Powered by Capital Market - Live News