India's Uno Minda rises on licensing agreement with Korea's Asentec

UNO Minda

21/12/2022 05:22

** Shares of Uno Minda Ltd  UNOI.NS  gain as much as 2.1% to
551.8 rupees
    ** The automotive component supplier said on Tuesday it
entered a technical license agreement with Korea's Sejong
Industrial Co Ltd's  033530.KS  unit Asentec
    ** Agreement to design, develop, manufacture and market
wheel speed sensors for Indian market
    ** Analysts look bullish with mean rating of "buy;" median
PT is 625 rupees – Refinitiv data 
    ** ~164,000 shares traded as of 10:35 a.m. IST, 0.5 times
the 30-day moving average 
    ** Up to last close, stock had fallen ~11.8% YTD vs a 206.7%
rise in 2021 
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))