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Minda Inds breaks 3-day losing streak

Capital Market 

Minda Industries was up 10.10% to Rs 302.55 at 11:20 IST on the BSE on bargain hunting after a recent slide.

Meanwhile, the S&P BSE Sensex was down by 77.20 points, or 0.20% to 38,653.62.

On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 9243 shares in the past two weeks. The stock had hit a high of Rs 304.20 and a low of Rs 273.75 so far during the day. It hit a 52-week high of Rs 455 on 11 July 2018 and a 52-week low of Rs 256.30 on 11 February 2019.

Minda Industries slumped 12.59% in the past three trading sessions to settle at Rs 274.80 yesterday, 9 July 2019, from its close of Rs 314.40 on 4 July 2019.

On a consolidated basis, Minda Industries' net profit fell 28.4% to Rs 73.50 crore on a 8.4% rise in the net sales to Rs 1486.46 crore in Q4 March 2019 over Q4 March 2018.

Minda Industries is a leading tier-1 supplier of automotive components to leading original equipment manufacturers (OEMs) globally.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 10 2019. 11:22 IST