Indian auto parts maker Uno Minda up on securing land for plant

Marr SpA

12/04/2024 05:11

** Shares of auto parts maker Uno Minda  UNOI.NS  rise as
much as 3.1% before trimming early gains, last up 1.6%
    ** Co says it has secured land parcel in the Indian state of
Haryana for alloy wheel plant with a capacity of 120,000
wheels/month 
    ** Adds it is also in process of acquiring land parcel in
Gujarat state 
    ** Stock reverses course after two straight sessions of
losses 
    ** Including session's gains, stock up 8% this year, peers
Bosch  BOSH.NS  and Samvardhana Motherson International
 SAMD.NS  up ~36% and ~17%, respectively
    ** Analysts' avg rating on UNOI stock is "buy", their median
PT is 755 rupees, a 3.8% premium to last close - LSEG



 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))