Minda Corporation tumbles after massive bulk deal

Minda Corporation slumped 13.43% to Rs 74.45 at 14:26 IST on BSE after 4.77% equity changed hands in a bulk deal on BSE today, 28 July 2015.

A bulk deal of 1 crore shares was executed on the Minda Corporation scrip at Rs 85 per share in opening bell on BSE today, 28 July 2015.

Meanwhile, the BSE Sensex was down 21.04 points or 0.08% at 27,540.34

Bulk deal boosted volume on the Minda Corporation scrip. On BSE, so far 1.15 crore shares were traded in the counter as against average daily volume of 817 shares over the past one quarter.

The stock hit a 52-week low of Rs 71 in intraday trade today, 28 July 2015 so far during the day. The stock hit a high of Rs 85 so far during the day. The stock had hit a record high of Rs 99.80 on 23 February 2015.

The stock had underperformed the market over the past one month till 27 July 2015, sliding 6.47% compared with Sensex's 0.9% decline. The scrip also underperformed the market in past one quarter, falling 4.44% as against Sensex's 1.41% gain.

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 fell 42.5% to Rs 26.41 crore on 3.9% rise in total income to Rs 506.07 crore in Q4 March 2015 over Q4 March 2014.

Minda Corporation is a diversified company with a product portfolio encompassing from Mechanical & 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