Minda Industries soars 8% on JV with Germany-based FRIWO for EV components

The company has entered into JV with FRIWO AG Germany to manufacture and supply various EV components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years.

Shares of Minda Industries rallied 8 per cent to Rs 1,019, hitting a new 52-week high on the BSE in Monday's intra-day trade, after the auto anciallary company announced a fresh round of capex and investment spends. The auto components maker announced last Friday that it has entered into a joint venture (JV) agreement with FRIWO AG Germany to manufacture and supply various electric vehicle components in the Indian subcontinent with a planned capex of Rs 390 crore in the next six years.

At 09:25 am, the stock was up 6 per cent at 1,005, as compared to a