India's Uno Minda gains after foray into passenger vehicle seating segment
BUZZ-India's Uno Minda gains after foray into passenger vehicle seating segment ** Shares of India's Uno Minda UNOI.NS rise 2.4% to 1156.50 rupees
** UNOI will enter four-wheeler passenger vehicle seating systems segment through its JV with Japan's Tachi-S 7239.T
** Company will also invest about 3.2 billion rupees ($33.59 million) in greenfield plant in Maharashtra, expected to commence operations by Q4FY28
** Nomura ("buy", TP:1,494 rupees) says this move will expand company's addressable market and is a long-term positive
** Brokerage expects the company's investment could eventually add about 8 billion rupees in revenue, with further upside from customer additions and premiumisation
** YTD stock down 10.58%
($1 = 95.2625 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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