Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Amazon Great Indian Festival Celebration Sale - 2019
Google
Web www.equitybulls.com
Stock Report

| More

Minda Industries Ltd. to acquire Delvis, Germany

Posted On: 2019-10-08 15:56:42

Minda Industries Ltd. (MIL) has entered into definitive agreement with Shareholders of Germany based Automotive Lamps engineering, design company & testing, Delvis Gmbh, to acquire 100% interest in the company. The enterprise value of the company along with its two subsidiaries Delvis Solution and Delvis Products is ~Euro 21 Mn, subject to adjustments, if any, at closing. The transaction is subject to customary closing conditions and other regulatory approvals. The transaction is expected to be concluded in next two months. The transaction will be funded by mix of debt and equity.

The acquisition is part of our strategy to augment / acquire technological capabilities in existing product lines (Automotive Lighting). Delvis is among the top players with state of the art lighting technology and works closely with German OEMs (VW / Audi/ Porche) in pre-development activities for high end platforms, which deploy the next level of technologies. This acquisition is expected to deliver considerable synergies for growth of lamp business in India and enhance its product offerings to OEMs.

On this occasion, Mr. N K Minda, CMD, said "The automotive lighting industry has seen a major shift in technology with the advent of LED based lighting products. While the global markets had migrated to LED 8-10 years ago, India market is now demanding this technology. This acquisition would help us bring this gap with cutting edge technology that Delvis has to offer to global markets."

Shares of MINDA INDUSTRIES LTD. was last trading in BSE at Rs.333.85 as compared to the previous close of Rs. 330.5. The total number of shares traded during the day was 13364 in over 549 trades.

The stock hit an intraday high of Rs. 336 and intraday low of 320.35. The net turnover during the day was Rs. 4458178.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

MCX Q2 FY2019-20 consolidated PAT surges to Rs. 71.75 crore

ACC Ltd Q3 consolidated PAT at Rs. 302.53 crore

Uttam Galva Steels Ltd posts loss of Rs. 335.45 crores in Q2

SBI Life Insurance Company Ltd announces performance for half year ended Sep 30, 2019

CRISIL reaffirms ratings of Raymond's bank loan facilities

Hindustan Zinc Ltd Board to consider Q2 results & First Interim Dividend on Oct 21, 2019

ARSS Infrastructure Projects Ltd's JV receives work order of Rs. 60.57 crore

ACC Ltd announces Q3 CY2019 results

Robust Volumes on MCX Drive Strong Performance in Q2 FY 2020

ONGC Videsh makes two new discoveries in Colombia and Brazil

Suditi Industries Ltd updates on ratings by CARE

Thangamayil Jewellery Ltd to open two new branches on Oct 16, 2019

Gujarat Hotels Ltd Q2 net profit rises to Rs. 1.07 crore

Wipro Limited Q2 Net Income at Rs. 25.5 billion

Karnataka Bank records first half net profit of Rs. 281.33 crore

Scanpoint Geomatics bags contract for Rs. 3.99 crore

ARSS Infrastructure Projects Ltd's JV bags order of Rs. 50.46 crore

Karnataka Bank reports net profit of Rs. 105.91 crore

Alicon Castalloy Ltd reports consolidated Q2 PAT of Rs. 9.35 crore

WIPRO Ltd Q2 consolidated PAT climbs to Rs. 2552.7 crore

Dhanvarsha Finvest Ltd assigned credit rating for proposed long term facility

ICRA Credit Rating for Rs 500 Crore bank facilities of Ramco Industries Limited

Dhanvarsha Finvest Ltd posts net profit of Rs. 1.03 crore in Q2

International Travel House Ltd Q2 loss at Rs. (2.12) crore

Paisalo Digital Ltd posts consolidated Q2 PAT of Rs. 20.04 crores

Apollo Tricoat Tubes Ltd Q2 net profit jumps to Rs. 9.42 crores

Equinor extends IT Operations and Transformation Agreement with HCL

Network18 Media & Investments Ltd announces Q2 FY2019-20 results

TV18 Broadcast Limited announces Q2 FY20 results

G G Engineering Ltd acquires additional stake in Shashi Beriwal and Company Pvt Ltd

Z F Steering Gear India Ltd posts loss of Rs. 0.80 crore in Q2

Berger Paints India Ltd to acquire STP Limited for Rs. 167.5 crore

Kaveri Seeds sets up its biggest, technologically advanced Biotechnology lab in Telangana, strengthens its focus on R & D

Maruti Suzuki invests Rs. 154 crore towards CSR initiatives in FY 2018-19

IOL Chemicals & Pharmaceuticals Ltd prepays Rs. 22.11 crore to bank

Jindal Drilling and Industries Limited awarded contract for Offshore Drilling Rig

CARE reaffirms ratings of Havells India Ltd

Indiabulls Housing Finance Limited repays Rs. 1330 crores raised through masala bonds

YES BANK recovers INR 645 crore

Vikas WSP Ltd receives LoC for $30 mn

CRISIL upgrades ratings of Varun Beverages Ltd

HUL Announces Key Appointments to Management Committee

GTPL Hathway appoints Mr. Anil Bothra as its Chief Financial Officer

Brickwork reaffirms ratings of Transcorp International Ltd

TCS Named India's Overall Most Outstanding Company in Asiamoney's 2019 Poll

Tejas Networks launches World's Largest Disaggregated Packet-Optical Switch at India Mobile Congress 2019

Cummins India powering a cleaner and more prosperous India with their BS-VI Certified engines

Early Diwali for investors: IRCTC stock doubles on listing day

Hindustan Unilever Ltd board declares interim dividend of Rs. 11 for 2019-20

Thomas Cook India introduces a unique 'Double Protection Program' comprising Trip Protection + Guaranteed Departures aimed at protecting traveller interests







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019