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Minda Industries slips 4% post weak Q1 result; Rights issue opens on Aug 25

The company's rights issue will open tomorrow, August 25, and the last day for submission of application will be on September 8, 2020

At 10:53 am, the stock was quoting 3 per cent lower at Rs 331 per share, as against 0.53 per cent rise in the benchmark S&P BSE Sensex
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At 10:53 am, the stock was quoting 3 per cent lower at Rs 331 per share, as against 0.53 per cent rise in the benchmark S&P BSE Sensex

SI Reporter New Delhi
Minda Industries' shares declined 4.3 per cent to hit an intra-day low of Rs 326.5 apiece on the BSE on Monday after the company reported subdued June quarter results. 

The auto ancilliary firm's standalone net loss came in at Rs 53.11 crore as against Rs 31.6 crore profit in the year-ago period. On a quarterly basis, the loss came against a profit of Rs 5.17 crore. Besides, its revenue from operation tumbled 73 per cent YoY to Rs 228.16 crore, down from Rs 836.1 crore reported in Q1FY20. The Gurugram-based company reported an exceptional loss of Rs 81.47 crore during

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First Published: Aug 24 2020 | 10:54 AM IST

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