Minda Corporation Ltd up by 8.63 percent | Espresso

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Espresso shot of the day – Minda Corporation Ltd up by 8.63 percent

October 26, 2021
Espresso shot of the day – Minda Corporation Ltd up by 8.63 percent

MINDA CORPORATION LTD. 139.05 (+8.63%) BSE – INE842C01021 | 26TH OCTOBER 2021

Minda Corporation Ltd was incorporated on 11thMarch, 1985 by the name Minda Switch Auto Private Limited for manufacture of Ignition Switches for Indian Automotive Industry and is the flagship company of Spark Minda Ashok Minda Group which was part of erstwhile Minda Group. The Company has 28 manufacturing facilities located across various parts of India including Maharashtra National Capital Region Tamil Nadu Uttarakhand Karnataka and Madhya Pradesh and 6 global manufacturing facilities in Germany Czech Republic Poland Mexico Indonesia and Vietnam. In addition, it has a design office located in Japan. Minda Corporation Ltd is one of the largest suppliers of 2 wheelers, 3 wheelers and Off Road vehicles electronic & mechanical security system.

Recent Drivers

  • On Oct 23, 2021, The Minda Corp approved the acquisition of 3,07,850 equity shares of the face value of Rs 10 each at a premium of Rs 70 i.e. Rs 80 per share of Strongsun Renewables Private Ltd, aggregating to Rs 2,46,28,000.
  • On Sept 8, 2021, The company appointed Ranjit Nambir as Chief Executive Officer (CEO) and P.C Jayan as the Chief Technology Officer (CTO) of its Interior Plastic Division (IPD).
  • On Sep 1, 2021, Minda Corporation Limited, through its 100% subsidiary Spark Minda Green mobility solutions, entered in to agreement for acquiring 26% Equity stake in charging solution startup EVQPOINT solutions.
  • On Aug 13, 2021, the company reported PAT from continued operations at Rs 7.1 crores on consolidated basis.
  • On Aug 13, 2021, the company’s operating revenue grew a massive 213.8% to Rs 558.6 crores
(Sources: Livemint, The Economic Times )


Technical Force*

  • S&P BSE 500 month till date gain up by 3.00 %
  • 3 months avg. NSE volume: 6,75,494
  • Quantity traded: 1,14,795 | Deliverable quantity: 46,097 (40.16%)
  • Stock price has jumped more than 110 % from one-year low level: 64.90 (Nov 4, 2020)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 148.00 | 52-week-low: 64.90


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

  192.97

157.48

123.57

88.08

54.17

18.68

-

    -

Fibonacci Pivot

157.48

130.97

114.59

104.05

88.08

72.12

61.57

45.19

18.68


Today’s Close

139.30

SMA

BSE

10 DAY

132.08

20 DAY

131.65

50 DAY

128.59

200 DAY

115.22


Some Key Ratios (Source: BSE)

Market Cap: 3,330.38 crores

PE: 29.19

OPM%: 6.38

ROE%: 11.09

Promoters holding%: 64.73

Prev. Close: 128.00

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.