Minda Industries gains after securing board approval for stock-split

Minda Industries rose 1.39% at Rs 1,188.90 at 09:51 IST on BSE after the company's board of directors considered and approved a 2-for-1 stock-split and acquisition of Panasonic Minda Storage Batteries India.

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 225.68 points, or 0.84%, to 26,966.07

On BSE, so far 7,614 shares were traded in the counter, compared with an average volume of 3,011 shares in the past one quarter. The stock hit a high of Rs 1,230 and low of Rs 1,186.45 so far during the day. The stock hit a record high of Rs 1,249 on 23 May 2016. The stock hit a 52-week low of Rs 475 on 8 September 2015.

The small-cap company has an equity capital of Rs 15.87 crore. Face value per share is Rs 10.

Minda Industries' consolidated net profit jumped 181.48% to Rs 42.56 crore on 30.14% rise in total income to Rs 721.73 crore in Q4 March 2016 over Q4 March 2015.

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 (OEM)'s.

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