Shares of Minda Corporation surged over 5 percent to hit a 52-week high of Rs 307.75 intraday on July 11 after the company secured a Rs 750-crore contract from a leading OEM.
Under the contract, Minda Corporation has will produce battery chargers for electric vehicles (EVs). The product will be manufactured at a facility run by Spark Minda Green Mobility Systems Private Limited (a wholly owned subsidiary of Minda Corporation Limited) in Pune.
“This prestigious order is a testament to Spark Minda’s robust EV product portfolio and our focus on customer-centricity. This milestone underlines our commitment towards promoting sustainable mobility and our ability to adapt to the evolving demands of the global automotive industry," said Aakash Minda, Executive Director of Minda Corporation.
During the last financial year, electric vehicles accounted for nearly 20 percent of the total orders bagged, the company said.
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Minda Corporation is a leading automotive component manufacturer with a pan-India presence and significant international footprint. The company has a diversified product portfolio that encompasses Mechatronics; Information and Connected Systems, Plastic and Interiors, Electronic Manufacturing Excellence and Spark Minda Green Mobility for auto OEMs.
At 10:26am, Minda Corporation was quoting Rs 301.80, up Rs 10.30, or 3.53 percent, on the BSE.
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