Stock watch: Minda Inds

Minda Industries (MIL) has been on an interesting run in the past one month. The scrip jumped 75.83 per cent from Rs 160, a month ago to a life-time high of Rs 293.35. The scrip had surged about 25 per cent in less than a week.

In today's trade, the price was up 5.55 per cent from Rs 266.70 to Rs 281.50. The analysts are of the opinion that the scrip holds more potential and has a long way to move.

Minda Industries, which has around 60 per cent market cap in the domestic automotive switches space, is poised for significant growth in exports.

The company currently supplies its products to the entire two-wheelers and selected tractors in the country. It has a manufacturing facility at Gurgaon and employs around 400 people. The company's new joint venture with the Italian company Fiamm SpA, is also expected to add on to its international prospects.

MIL's foray into the four-wheeler space has also increased its future prospects. The company has also signed a venture with Tokai Rika Company Limited, Japan and Sumitomo Corporation, Japan to produce automotive switches for four-wheeler vehicles. It also signed a JV with TYC Brother Industrial Company Limited, Taiwan, to produce automotive lighting.

The projected valuations of the company for the next two years, looks good.