Minda Inds scales record high after bulk deal

Minda Industries advanced 4.94% to Rs 888.20 at 13:40 IST on BSE after a bulk deal of 1.20 lakh shares was executed on the scrip at Rs 855.50 per share at 11:07 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 177.78 points or 0.56% at 31,908.27. The BSE Mid-Cap index was up 157.82 points or 1.02% at 15,697.61.

Bulk deal boosted volume on the scrip. On the BSE, 1.58 lakh shares were traded on the counter so far as against the average daily volumes of 21,714 shares in the past one quarter. The stock had hit a high of Rs 892 so far during the day, which is a record high. The stock hit a low of Rs 846.95 so far during the day. The stock had hit a 52-week low of Rs 252 on 31 August 2017.

The stock had outperformed the market over the past one month till 31 August 2017, rising 7.49% compared with 2.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 36.99% as against Sensex's 1.46% rise. The scrip had also outperformed the market in past one year, surging 204.81% as against Sensex's 11.63% rise.

The mid-cap company has equity capital of Rs 17.28 crore. Face value per share is Rs 2.

Minda Industries' consolidated net profit jumped 85.02% at Rs 51.49 crore on 26% growth in total income to Rs 954.02 crore in Q1 June 2017 over Q1 June 2016.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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