India's UNO Minda surges on commissioning two plants for EV components

UNO Minda

16/08/2023 08:23

** Shares of UNO Minda  UNOI.NS  rise as much as 6.99% to
624.90 rupees, a 20-month high
    ** Auto parts maker commissions two plants in Haryana to
make components for electric vehicle two-wheelers and
three-wheelers
    ** Co aims to achieve 15 bln rupees in revenue from electric
vehicles systems by fiscal 2026
    ** Also sets August 31 as record date for 1 rupees per share
dividend announced on May 18
    ** Stock most active in three months, with trading volume of
1.11 mln shares as of 12:41 p.m. IST, thrice the 30-day avg -
Refinitiv data
    ** Of the 15 analysts tracking UNOI, eight maintain "strong
buy", five suggest "buy", one recommends "hold", one retains
"sell"; median PT is 638.50 rupees
    ** Including Wednesday's gains, UNOI up 18.19% in 2023 so
far

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))