India's Minda Corporation hits record high on $91-mln order win

Minda

11/07/2023 06:48

** Shares of Minda Corporation Ltd  MINC.NS  up as much as
5.6% to hit a record high at 307.70 rupees
    ** Automotive components maker says it secured a contract
for producing battery chargers for electric vehicles
    ** Lifetime value of order is 7.50 bln rupees ($91 mln) 
    ** Over 2.5 mln shares change hands by 11:08 a.m. IST, 1.6x
the 30-day moving avg
    ** Five of the seven analysts covering the stock have a
"buy" or "strong buy" rating, while two rate it at "hold";
median PT is 297 rupees - Refinitiv data
    ** As of last close, stock up ~42% so far this year 



($1 = 82.3850 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))