Minda Industries surged 8.45% to Rs 880.85 after the company said that its board will meet on 24 May 2022 to consider and recommend issue of bonus shares.
On the same day, the board will also consider and approve the audited standalone and consolidated financial results of the company for the quarter and year ended on 31 March 2022.
The board will consider and recommend the final dividend on equity and preference shares for the financial year 2021-22.
A proposal for raising funds through the issue of debt securities up to Rs 1,000 crore, in one or more tranches, will also be considered at the same meeting.
Minda Industries is a flagship company of UNO MINDA Group, which manufactures automobile components for original equipment manufacturers (OEMs).
The company's consolidated net profit dropped 22.7% to Rs 98.68 crore on a 7.4% increase in net sales to Rs 2,181.38 crore in Q3 December 2021 over Q3 December 2020.
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